Oxford Properties Group purchases Resilience manufacturing site for $125M

The international real estate company Oxford Properties Group has purchased a manufacturing facility in the Boston suburbs.

According to Oxford, it has purchased a 120,000-square-foot biomanufacturing facility, which is currently under expansion in Marlborough, MA, about 34 miles from Boston. Oxford purchased the facility for a cool $125 million from contract manufacturer Resilience. While the deal will have Oxford acquire the building, it will lease back the facility to Resilience for up to 30 years.

Rahul Singhvi

Resilience CEO Rahul Singhvi told Endpoints News in an email that the deal will allow the manufacturer to keep full control of the site and will also provide a “low cost” of capital financing to Resilience. Singhvi said that the site’s expansion is aiming to be finished before the end of the second quarter of this year. However, no other details on the headcount or what will be manufactured at the site were immediately available.

For Oxford, the acquisition will add to its portfolio of manufacturing spaces, now bringing it to a total of 12 facilities at 1.4 million square feet, with 775,000 square feet in the Boston area, according to a release from Oxford.

“This conviction is evidenced by three cGMP developments that we are undertaking in the Boston market to serve the growing demand for biopharmaceutical manufacturing,” Christie Chen, the director of investments at Oxford, said in a release.

A report from the Worcester Business Journal said the site was originally built in 2016, with Resilience purchasing the facility last year and construction on the expansion also starting in 2022.

Resilience itself has been growing its physical footprint over the past year, scoring several partnerships and physical manufacturing sites. Late last year, Resilience purchased an Ohio-based manufacturing site from AstraZeneca. The site, just north of Cincinnati, will produce AstraZeneca medicines at the facility as part of the supply agreement between Resilience and the UK-based pharma.

It also started this year with its first deal outside of North America from Abu-Dhabi-based Mubadala, inking an equity investment in the manufacturer. The two parties will collaborate on a plan to build a new manufacturing facility in Abu Dhabi. As per the deal, Mubadala will establish the facility and Resilience will operate it.

manufacturing
biopharmaceutical
pharma