Developer Wexford spins off as independent company

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Authored by: Baltimore Sun

The Baltimore-based biopark developer Wexford Science & Technology became an independent company Thursday as a Chicago-based real estate investment trust acquired its real estate assets from its former parent.

The spin-off came as Ventas Inc. acquired the real estate assets of BioMed Realty L.P., an affiliate of Blackstone Real Estate Partners VIII L.P., Wexford announced Thursday. The Blackstone Group, a New York-based investment firm, acquired Biomed Realty in an $8 billion deal earlier this year.

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