Norges Bank Investment Management entered into agreement to acquire 45% stake in 290 Binney Street Located in Kendall Square in Cambridge, Massachusetts from Boston Properties, Inc. for $530 million.

Norges Bank Investment Management entered into agreement to acquire 45% stake in 290 Binney Street Located in Kendall Square in Cambridge, Massachusetts from Boston Properties, Inc. (NYSE:BXP) for $530 million on November 13, 2023. In a related transaction, Norges Bank Investment Management also acquired 45% stake in 300 Binney Street Located in Kendall Square in Cambridge, Massachusetts on November 13, 2023. BXP will retain the remaining 55 percent interest in the both properties and will manage the properties on behalf of the partnership. As of February 27, 2024, This interest sale of 290 Binney Street is expected to close in 2024.

Norges Bank Investment Management completed the acquisition of 45% stake in 290 Binney Street Located in Kendall Square in Cambridge, Massachusetts from Boston Properties, Inc. (NYSE:BXP) on November 13, 2023.