Alexandria Sells 29% Stake in 1,587,000 SQFT Campus Point Megacampus to New Partner for $475MM in San Diego

Alexandria Real Estate Equities sold an approximately 29 percent noncontrolling interest in its Campus Point by Alexandria Megacampus in San Diego's University Town Center to an unnamed new joint venture partner for $475 million, a structured deal that targets an expected minimum 5.5 percent distribution for the investor, gives it a put right after seven years and lets Alexandria keep control of its flagship San Diego campus.