Who owns 50 and 60 Binney Street (consolidated real estate joint venture with an affiliate of Norges Bank)

50 and 60 Binney Street (consolidated real estate joint venture with an affiliate of Norges Bank) - Profile

This venture owns 50 and 60 Binney Street, a pair of ten storey laboratory and office buildings in East Cambridge, Massachusetts totalling 532,395 square feet of upper level lab and office space plus street level retail and six levels of underground parking. Completed in 2017, the buildings form part of Alexandria Center at Kendall Square, Alexandria Real Estate Equities' science and technology campus, and they sit between the Kendall/MIT stop on the MBTA Red Line and Lechmere on the Green Line. The venture was created on 15 December 2021 through a 1.2 billion dollar recapitalisation brokered by Newmark, in which Alexandria kept a minority interest and continued to manage the asset while Norges Bank Investment Management, which invests Norway's sovereign wealth fund, and MetLife Investment Management bought in. The property was fully leased and carried no debt at the time of the deal.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• Alexandria Real Estate Equities, Inc.. ARE's 2026 DEF 14A ('Agreement With Affiliate of Norges Bank') discloses that in December 2021 ARE formed this real estate joint venture and an affiliate of Norges Bank acquired a 41.0% interest for $485.9 million; during 2025 the affiliate received its commensurate profit share of $15.3 million. The proxy does not state ARE's own percentage directly. This 59% figure is modelled as the arithmetic complement (100 minus 41.0), which is standard for a two-party JV but not itself filed; basis is proxy_statement and confidence is estimated rather than filed for that reason. The Q2 2026 10-Q lists 50 and 60 Binney Street as consolidated under the VIE model (ARE has power to direct the activities that most significantly affect the VIE's economic performance), so ARE fully consolidates the property on its balance sheet with Norges Bank's interest recorded as a noncontrolling interest, rather than reporting an equity-method investment value for this JV. Cross-check: Norges Bank also appears in this file's register as a Q2 2026 13F filer holding 16,437,663 ARE common shares (9.43%) in its own right, a separate and unrelated passive institutional position in ARE stock itself, not connected to its 41.0% JV interest. source