The $3 billion raised in fund and co-investment capital surpassed Breakthrough's initial $1.5 billion target. . Global Co-Head of Blackstone Real Estate, said, "Life science is one of . Blackstone's acquisition was the largest of the year in life science real estate, both by total volume and price per square foot. The Biggest U.S. Based Real Estate Companies While most property managers are familiar with Jones Lang Lasalle and CBRE, they might be surprised to learn that neither is the largest U.S. based real estate company. In November 2019, Blackstone Real Estate Income Trust paid $4.25 billion for the Bellagio Hotel & Casino in Las Vegas. That deal appeared ill-timed when COVID-19 hit a few months later, but gambling giant MGM kept making its rent payments through the pandemic, and by June 2020, the casino was back open for business. Together, these three areas accounted for 70% of all venture-capital investment in life sciences in the country in 2019. But when it comes to life sciences real estate (LSRE), also known as bioscience real estate, the sector's hotness quotient seems to have staying power for more than just a quarter or two. This project, for developer-owners King Street Properties and GFP Real Estate, entails a complete gut and renovation . . Credit: CBRE Research. Matt Gardner, Americas Life Sciences Leader, CBRE Boston, San Diego, and the Bay Area still rank as the most powerful hubs, but they have no shortage of competitors. NEW YORK-Blackstone announced that Blackstone Property Partners Life Sciences ("BPPLS") will acquire a best‐in‐class, 2.3 million square foot portfolio of lab office buildings from a Brookfield Asset Management real estate fund for $3.45 billion. "This transaction validates the work of Lyme for the past ten years and demonstrates the investment potential of first-class research space in well established academic centers . It also . Connor McNellis Commercial Real Estate Lawyer serving Tech, Life Sciences, & Renewable Energy Clients. Investment Management, is the largest owner of life sciences properties in the U.K., managing more than 2 million square feet of real estate across ten science parks, while supporting . The reason why they did this is that even though by law the Blackstone fund, which owned . 2.3 million-square-foot portfolio is next to Massachusetts Institute of Technology. The owners are now looking at a range of . Property Owner Alexandria Capitalizes on Escalating National Demand for Life Science Real Estate By Lou Hirsh CoStar News March 2, 2022 | 3:43 P.M. Pharmaceutical giant Bristol Myers Squibb has leased 427,000 square feet in a San Diego life science campus being redeveloped by Alexandria Real Estate Equities, underscoring soaring nationwide demand for biotech real estate. January 19, 2021. The New York-based firm has raised $8.4 billion so far for Blackstone Property Partners Life Sciences, a new long-term perpetual capital core-plus real estate vehicle launched in the fourth quarter of last year, Blackstone's president and COO Jonathan Gray said in its Q4 2020 earnings call today. This is the fifth vehicle in the firm's core . Alexandria Capitalizes on Rising Biotech Demand, Even as Ukraine War Raises Project Costs One of the Nation's Largest Life Sciences Landlords Posts Second-Highest Quarter for Leasing The lease ranks. • Alexandria, while currently the largest owner of life sciences real estate in the country, continues to aggressively pursue deals, closing on $2.3 billion dollars in the past 12 months alone. The New York-based firm has raised $8.4 billion so far for Blackstone Property Partners Life Sciences, a new long-term perpetual capital core-plus real estate vehicle launched in the fourth quarter of last year, Blackstone's president and COO Jonathan Gray said in its Q4 2020 earnings call today. With real estate costs at all-time highs and availability at all-time lows, life sciences companies—along with real estate owners and investors—are finding new ways to engage with the up-and-comers. According to global commercial real estate firm Cushman & Wakefield: "A record $70 billion of private and public capital (mostly venture capital and initial public offerings) poured into life . In Q4 of 2020, Blackstone Group Inc. did something interesting with BioMed Realty Trust, the second-largest U.S. owner of life-science buildings1, which it acquired in 2016. This is the fifth vehicle in the firm's core . Indeed, a new report from commercial real estate giant CBRE Group ( CBRE -0.10%) said this industry is now seeing all-time highs in funding, job growth, demand for lab space, and new construction.. April 26, 2022 | 5:02 P.M. Leasing biotech space remains near historic levels for Alexandria Real Estate Equities, though war in Ukraine and lingering supply chain disruptions are raising costs and. Blackstone today announced that Blackstone Real Estate Partners VIII L.P. and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors. The six through 10th largest owners, all with between 3 million and 5 million square feet of space, are: King Street Properties, Boston; Boston . Alexandria Real Estate Equities easily leads the nation in life sciences real estate with 43 million square feet in over 407 properties, which is almost three times as much space as the second-largest owner. In the first quarter of 2021, Colorado's life science industry raised a record $704 million in funding from public, private and federal sources. Blackstone (NYSE: BX) today announced that Blackstone Real Estate Partners VIII L.P. and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors. Breakthrough Properties closes $3 billion life-science real estate fund. Locating life science properties for sale or lease is among our specialties at Wolf Commercial Real Estate, a premier Philadelphia commercial real estate broker specializing in life science real estate. Figure 3: Alexandria Real Estate and life science portfolio occupancy. About a month later, Longfellow Real Estate Partners said it bought a storage facility in Millbrae for $80 million as a life science redevelopment play. Rick Howe, BioMed's senior director of corporate communications, declined to comment. INTEREST IN LIFE SCIENCES REAL ESTATE IS AT AN ALL-TIME HIGH Life sciences deals reached a record 16.4% of total offi ce and fl ex transactions, according to a January 2021 report from New York-based advisory fi rm Newmark.1 In the largest life science . Play Video. The life sciences and . . In 2021, Breakthrough broke ground on its 515,000-square-foot Torrey View by Breakthrough development, a 10-acre . According to a recent Cushman & Wakefield report, 17 million square feet are under construction in the top 10 life sciences markets. Neurocrine Biosciences has leased 535,000 square feet for a new headquarters campus at Aperture Del Mar — highlighting the continued demand for top tier lab space in San Diego. Philly Life Sciences are Booming! BOSTON, MA, October 16, 2020 - Bain Capital Real Estate, the real estate investing business of Bain Capital, and Phase 3 Real Estate Partners, Inc., today announced the sale of Genesis South San Francisco, a Class A life sciences portfolio located at the entrance to the South San Francisco life science cluster, one of the largest life science clusters in the world. In the past, the REIT. for more than £200 million ($251 million). Lamar's yield of 4.7% exceeds the 4.4% of the average REIT, yet the dividend. In its 2021 Life Sciences Real Estate Outlook, . Neoscape worked with King Street Properties, one of the largest private owners/operators of life science real estate in Greater Boston, to design and deploy a new brand and marketing strategy for an upcoming life science building in Long Island City, NY, marking the company's first expansion into the New York City market. Currently, 33 life sciences companies are searching for a cumulative . The nation's leading markets . At 14 times trailing FFO, Lamar trades 24% below the average for REITs we cover and 4% below its own three-year average. Many life sciences companies are turning to commercial real estate advisers to help them navigate the scrum. BioMed owns and operates high-quality life science real estate comprising 13-million-square feet located in the leading innovation markets throughout the U.S. and U.K. In fact, neither cracks the top 5 on our list of the 26 biggest U.S. based real estate companies. The owners are now looking at a range of . The Bay Area's life science real estate sector has hit a fever pitch. . NEW YORK-Blackstone (NYSE: BX) today announced that Blackstone Real Estate Partners VIII L.P. and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors. Life sciences industry momentum has been building for decades, but it's recently become one of the most highly sought-after sectors within commercial real estate. Shares were priced at a . The company has a substantial pipeline, with over 2.8 million square feet actively under construction. In 2009 Alexandria Real Estate occupancy average 94%, rising to over 96% in 2013 and remaining steady through 2018. The first quarter of 2021 "was the largest quarter on record for life sciences real estate investment," with a total transactional volume of $6.2 billion, estimates JLL. Mr. Barrett of Savills has worked with companies including Outset Medical, Senti Bio . Currently the largest owner of life science real estate in the country, Alexandria (NYSE:ARE) continues to aggressively pursue deals, closing on an estimated $3 billion in 2020. BioMed is the largest private owner of . BOSTON - BioMed Realty has acquired an existing 162,000-square-foot office building and an adjacent 7.5 acre site in Somerville, MA. lab conversions represent more than 20 . Shares were priced at a . Life sciences and biotech real estate hit an upward stride over the past decade, and the past 17 months have served as a further catalyst for a life science real estate boom. 0. This is part of a new long-term, perpetual capital, core+ return strategy managed by Blackstone. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested over $4.5 billion of equity in over 440 assets . BioMed is the largest private owner of life science office buildings in the United States with an 11.3 million square foot portfolio concentrated in leading innovation markets including . Matt Gardner, Americas Life Sciences Leader, CBRE Boston, San Diego, and the Bay Area still rank as the most powerful hubs, but they have no shortage of competitors. Denver is the tenth-largest U.S. life sciences market in the U.S. in terms of square footage of lab space. Blackstone's BioMed Realty is second with 14.4 million square feet spread over 91 properties. Post transaction completion, Blackstone will become the largest life science office owner in Cambridge, and BioMed Realty, which will have an enterprise value of ~$20B, will have two-thirds of its . -. A major new development is planned for one of the Bay Area's leading life science hubs. Alexandria Real Estate Equities Inc., the largest life-sciences real-estate investment trust in the U.S., last week raised $1.1 billion through a new share offering. 1 In the largest life science hubs in the US, the amount of real estate dedicated to the sector has grown to around 40 million SF in the Greater Boston area, some 30 million . BOSTON - BioMed Realty, a leading provider of real estate solutions to the life science and technology industries, announced the acquisition of an existing 162,000 square foot office building and adjacent 7.5 acre site at Assembly Square in Somerville, Massachusetts. Shares were priced at a discount of only about 2.6% below the existing share price. your username. INTEREST IN LIFE SCIENCES REAL ESTATE IS AT AN ALL-TIME HIGH. October 18, 2021 | 2:01 P.M. Longfellow Real Estate Partners, one of the US's largest privately owned investment managers and operators of life science real estate, has recruited Alex Wright as UK. Welcome! Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single-family housing, office, hospitality and retail. The rise of life sciences incubators. Alexandria Real Estate Equities Inc., the largest life-sciences real-estate investment trust in the U.S., last week raised $1.1 billion through a new share offering. The deals brought Brookfield's ownership in the UK's life sciences 'golden triangle' of Oxford, Cambridge and London to 1.6 million square feet, with the potential for 5 million square feet more. India Office. BioMed owns and operates high quality life science real estate comprising 11.3 million square feet concentrated in the . Blackstone Group has agreed to pay Brookfield Asset Management $3.45 billion for a life-sciences real estate . According to a recent Cushman & Wakefield report, 17 million square feet are under construction in the top 10 life sciences markets. Life sciences incubators are popping up across the United States and becoming a critical part of the . Boston, which boasts extensive medical and tech talent, is at the heart of this . Enlarge. The region has the second-largest life science cluster in the U.S. after Boston, according to JLL and Newmark. CHARLOTTE, N.C. and SAN DIEGO, June 21, 2022 /PRNewswire/ -- Barings, one of the world's largest diversified real estate investment managers, along with Phase 3 Real Estate Partners and Bain . As the sixth-largest life sciences market in the country, Philadelphia and the surrounding South Jersey . This is . • Life sciences real estate has high barriers to entry and requires skilled owner/operators—therefore the sector favors large groups like The pandemic has put European life sciences real estate firmly on equity investors' radars. Alex Wright serves as Managing Director, UK for Longfellow Real Estate Partners, the largest privately held investor and developer of life science real estate in the US with a 14+ million square . Commercial real estate investment volumes in Europe totalled 277 billion euros ($333 billion) in 2020, down 17% from a year earlier as a result of the coronavirus pandemic, real estate broker CBRE . Phase 3 Real Estate Partners and Bain Capital Real Estate have secured more than $400 million in . 1980. will become a place where life science professionals collaborate, experiment, discover and advance the nation's - and world's - efforts to tackle vital health challenges." "Our vision for the Assembly Sq. The purchase price for the 1,150,000 square foot portfolio is $524 million, making it the largest single transaction in the history of life sciences real estate. Europe to get their views on the skills needed to lead real estate in this sector. Assembly Square-BioMed. BioMed is the largest private owner of life science office buildings in the United States with an 11.3 million square foot portfolio concentrated in the leading innovation markets including Boston . In 2009, HCP occupancy rate averaged 91%,, dropping to below 90% in 2010, then remaining flat at 90% for 2011 and 2012, then peaking at 97% in 2016, and . Life sciences deals reached a record 16.4% of total office and flex transactions, according to a January 2021 report from New York-based advisory firm Newmark. Blackstone, a veteran investor in the sector, booked a $6.5 billion profit from refinancing BioMed Realty Trust, the largest private owner of life-science office buildings in the U.S. On Thursday, Blackstone announced that it has agreed to sell biotech real estate firm BioMed Realty for $14.6 billion to a group of existing BioMed investors. We are one of the largest owners of Class A office space in India, with a portfolio spanning over 125 million square feet across key . BioMed is the largest private owner of life science office buildings in the United States with an 11.3 million square foot portfolio concentrated in the leading innovation markets including Boston/Cambridge, San Francisco, San Diego, Seattle and Cambridge U.K. . It's followed by Healthpeak Properties . Boston Real Estate Times. The project is one of the submarket's largest ready-to-occupy, amenity filled life sciences campus. for more than £200 million ($251 million). OPPORTUNISTIC. Instead of selling it to an external third party or taking it public, Blackstone sold it internally to another Blackstone fund. We're at the forefront of rapid change concerning modalities of drug discovery and delivery, including the prevalence of more "living" - or bio engineered, small molecules. Dickerman said it is likely the largest contiguous portfolio of life science real estate ever sold. East Cambridge has the highest average asking rent for research space in North America at $97.97 per square foot net of taxes, insurance and maintenance charges, according to Cushman & Wakefield's 2020 life science report. . San Diego, California, United States 500+ connections Indeed, a new report from commercial real estate giant CBRE Group (NYSE: CBRE) said this industry is now seeing all-time highs in funding, job growth, demand for lab space, and new construction . JLL's "2020 Life Sciences Real Estate Outlook" shows that Boston, San Francisco and San Diego are the leading life sciences clusters in the U.S. BPPLS is Blackstone Real Estate's long-term, perpetual capital, core+ return life sciences strategy that owns BioMed Realty, Blackstone . Blackstone Property Partners Life Sciences has agreed to acquire a 2.3 million-square-foot portfolio of lab office buildings, most of it in Cambridge, Massachusetts, from Brookfield Asset . "Phase 3 Real Estate Partners was blessed to be able to work with such an incredible canvas . New York City's market, totaling 4.9 million square feet of existing life-science space, is still in its early days, according to real-estate firm Colliers. Alexandria Real Estate Equities easily leads the nation in life sciences real estate with 43 million square feet in over 407 properties, which is almost three times as much space as the second-largest owner. Formed in 2019 as a joint venture between global real estate owner, developer and investor Tishman Speyer and biotechnology investment firm Bellco Capital, Breakthrough Properties is a life science real estate development company that leverages cross-sector collaboration to deliver environments that foster innovation and scientific . Assembly Sq. . It is the largest real estate fund dedicated exclusively to the life sciences sector,. Formed in 2019 as a joint venture between global real estate owner, developer and investor Tishman Speyer and biotechnology investment firm Bellco Capital, Breakthrough Properties is a life science real estate development company that leverages cross-sector collaboration to deliver environments that foster innovation and scientific breakthroughs. This is part of a new long-term, perpetual capital, core+ return strategy managed by Blackstone. Alexandria Real Estate Equities, one of the largest life-sciences-focused real estate investment trusts in the country, raised $1.1 billion last week through a share offering. your password Shares were priced at a discount of only about 2.6% below the existing share price. . CBRE data found that investment in life science real estate averaged $18.7 billion every year between 2014 and 2019. location is to create a premier innovation campus where science and technology intersects," said Sal Zinno, vice . Officials of Pasadena . Log into your account. The properties are located at the Assembly Square campus . investing in life sciences real estate that supports the evolution of life sciences business through access to venture development and investment capital. Blackstone's BioMed Realty is second with 14.4 million square feet spread over 91 properties. BioMed is the largest private owner of life science office buildings in the United States with an 11 . Alexandria Real Estate Equities Inc., the largest life-sciences real-estate investment trust in the U.S., last week raised $1.1 billion through a new share offering. The next closest was Chicago-based REIT Ventas's purchase of a three-property portfolio in South San Francisco from Bain Capital and the investment firm Phase 3 Real Estate Partners for a little more than $1 billion, or $1,200 per square foot. Alexandria Real Estate Equities Inc., the largest life-sciences real-estate investment trust in the U.S., last week raised $1.1 billion through a new share offering. Genesis is a life science real estate brand that leverages the deep experience and global breadth of its owners' partnership to create an environment focused on meeting the needs of its tenants to . With a 3.4 million-square-foot portfolio in Boston and Cambridge, BioMed is among the largest owners of. Life-science lab space has emerged as a coveted sector of commercial real estate as hefty increases in funding and employment have fueled both demand for lab space and construction of it in leading U.S. life-science markets, according to a new report from CBRE.These factors have contributed to growth in markets like Denver, which is the tenth-largest U.S. life sciences market in the U.S. in .
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