Diversified Healthcare Trust announced that it has acquired 47071 Bayside Parkway located in Fremont, CA for $82 million, excluding closing costs, reflecting a current GAAP cap rate of 6.5% at closing. The recently renovated asset includes 89,000 rentable square feet of lab and corporate headquarters space that is 100% leased to Alamar Bioscience through January 2034. The property is located along the Central I-880 corridor, an established and growing life science submarket of the San Francisco Bay area.

With this acquisition, DHC now owns four life science assets with approximately 327,000 square feet in the San Francisco Bay area market, in addition to its joint venture investment in two properties located in the same market.