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BLACKSTONE INC.

(BX)
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Blackstone's BioMed to Invest $1.2 Billion in New UK Labs

09/21/2021 | 12:44am EDT

By Joshua Kirby

U.S. real-estate investment company BioMed Realty said Tuesday that it plans to significantly increase its laboratory space in the U.K. after acquiring two sites in the city of Cambridge.

The Blackstone Inc. portfolio company, which specializes in real estate for the life-science and technology industries, said it plans to build some 800,000 square feet of lab space at the 15-acre Cambridge International Technology Park and another 27-acre site at Granta Park. The company didn't disclose the financial details of the acquisitions, from developer Abstract Securities and the Welding Institute, respectively, but said the overall investment will total around 850 million pounds ($1.16 billion).

The plan will double BioMed's current life-sciences real estate in Cambridge and create up to 2,700 jobs, the company said, adding that the new sites remain subject to planning approval.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

09-21-21 0244ET

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Analyst Recommendations on BLACKSTONE INC.
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Financials (USD)
Sales 2021 10 264 M - -
Net income 2021 5 465 M - -
Net Debt 2021 - - -
P/E ratio 2021 32,1x
Yield 2021 2,69%
Capitalization 99 282 M 99 282 M -
Capi. / Sales 2021 9,67x
EV / Sales 2022 9,03x
Nbr of Employees 3 165
Free-Float 98,1%
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Number of Analysts 15
Last Close Price 137,63 $
Average target price 134,46 $
Spread / Average Target -2,30%
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Managers and Directors
Stephen Allen Schwarzman Chairman & Chief Executive Officer
Jonathan D. Gray President, Chief Operating Officer & Director
Michael S. Chae Chief Financial Officer
John Stecher Chief Technology Officer
Jeffrey Iverson Managing Director-Legal & Compliance
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