Blackstone Property’s life science arm will become the largest landlord in the industry’s Cambridge hub with the pending $3.45 billion acquisition of a 2.3 million-square-foot office-lab portfolio from Brookfield Asset Management.

Blackstone Property Partners Life Sciences was founded in 2018, reflecting institutional investors’ growing appetite for acquisitions within the expanding property sector in a handful of industry clusters including Greater Boston. Blackstone’s initial life science fund closed in July after receiving $4.6 billion in commitments, representing the largest fund concentrating on the sector to date.

A list of the individual properties involved in the Brookfield transaction was not immediately available, but 90 percent of the portfolio is located in Cambridge, Blackstone said in an announcement. The transaction is expected to close in the first quarter.

Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are serving as financial advisors to Blackstone, and Simpson Thacher & Bartlett LLP is serving as legal advisor.

Eastdil Secured is serving as lead financial advisor to Brookfield, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor. Citigroup Global Markets Inc. also provided financial advisory services to Brookfield in connection with the transaction.