Posted May 13, 2022, 4:15 AM
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![Urbanthusiat's Avatar](image.php?u=89806&dateline=1449250755) |
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Join Date: Dec 2015
Location: South Philly
Posts: 1,696
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Love the new design. Also relevant is that Breakthrough recently closed on a huge $3B fund specifically for life sciences developments which gives me confidence we'll actually see this happen.
Breakthrough Properties Raises $3 Billion to Develop Next Generation Life Science Ecosystems
Quote:
LOS ANGELES, April 29, 2022 /PRNewswire/ -- Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, today announced the final closings for the Breakthrough Life Science Property Fund. The venture raised $3 billion in direct capital and co-investments, to scale a global portfolio of best-in-class ecosystems for dynamic early-, mid-, and late-stage life science companies.
The $3 billion raised in fund and co-investment capital surpassed Breakthrough's initial $1.5 billion target. It is the largest real estate fund dedicated exclusively to the life sciences sector, excluding recapitalizations of existing portfolios, according to CBRE and JLL Research. The Fund was raised from a diverse group of institutional investors, sovereign wealth funds and high net worth individuals spanning four continents.
Founded in 2019, Breakthrough has established itself as one of the most active players in the life science sector with 4.6 million square-feet of projects in the pipeline across San Diego, Boston/Cambridge, Philadelphia, Amsterdam, Oxford, and Cambridge, UK. Breakthrough will use the newly raised funds to finance its ongoing developments, which are in various stages of design, construction and pre-development, and fuel its pursuit of additional opportunities throughout the United States and Europe.
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Pretty exclusive list of cities to be on
Last edited by Urbanthusiat; May 13, 2022 at 1:43 PM.
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