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Laxman Pai, Opalesque Asia: The life science real estate development company Breakthrough Properties has reached the final closings for its Breakthrough Life Science Property Fund, which raised $3 billion in direct capital and co-investments.
A joint venture of Tishman Speyer and Bellco Capital, Breakthrough will use the fund "to scale a global portfolio of best-in-class ecosystems for dynamic early-, mid-, and late-stage life science companies."
According to a press release, 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, said the release.
"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," the release said.
"Breakthrough was f...................... To view our full article Click here
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