Life sci­ences de­vel­op­er Bio­Med Re­al­ty buys San Fran­cis­co ho­tel for $75M — re­port

In a some­what un­con­ven­tion­al deal, life sci­ences re­al es­tate de­vel­op­er Bio­Med Re­al­ty has bought a 169-room Hilton Gar­den Inn in South San Fran­cis­co for $75 mil­lion, the San Fran­cis­co Busi­ness Times re­port­ed.

Bio­Med Re­al­ty, an af­fil­i­ate of Black­stone, has mul­ti­ple life sci­ences and tech­nol­o­gy of­fice projects in the Bay Area, in­clud­ing three sites with­in a five-minute dri­ve of the ho­tel.

While the sale of the ho­tel prop­er­ty was an­nounced ear­li­er this month, the sell­ers, Sum­mit and GIC, did not iden­ti­fy the buy­er at the time.

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