"MIT is a big supporter of what is going on in Cambridge," McQuaid tells GlobeSt.com. "It is a market we understand and it is one we have a lot of faith in." The ground leases have an initial term of 50 years, and carry a 25-year extension option.

First reported earlier today by GlobeSt.com, the series of four transactions came after extended discussions between the two sides. It underscores a close relationship forged last year when Alexandria paid $600 million for a 90% stake in Technology Square, McQuaid explains, with MIT previously acquiring that seven-building, 1.2-million-sf complex in the core East Cambridge submarket.

As in the case of the latest deals, the school stayed involved at Technology Square via a ground lease. That method has been used in the past by the organization, McQuaid notes, exemplified in the case of University Park at MIT, a major mixed-use complex that has helped revitalize Cambridge's Central Square since work began there in the 1980s. The main developer is Forest City Enterprises, but MIT's involvement helped clear the way for that ambitious project, one that abuts the school's main campus.