Aeneas Capital and Pyrinas Real Estate Management, based in Hong Kong, are launching a US$120m innovative closed-ended property fund.
Pyrinas US Healthcare Real Estate Fund 1 SP will acquire and develop co-working space and incubator facilities for the life sciences sector in the United States.
Supported by the ecosystem of its affiliated company, Aptorum Group (Nasdaq: APM), the fund’s key investment objective is to acquire and redevelop real estate into shared laboratories and incubator facilities for life science sector startups.
The fund will focus its investments in primarily four North America mandated cities (namely Cambridge, Boston, Houston, and San Francisco in the United States and Toronto in Canada).
The fund is targeting a launch size of up to US$120 million with a targeted return of 15-19% per annum (Net IRR) over a period of four years with one-year extension.
Pyrinas is currently in discussions with a number of institutional investors and collaborative partners.
Together with Aptorum and Aeneas Capital, the fund also aims to nurture medical research, the development of intellectual property, and collaboration between scientists, researchers, investors, and industry participants; while providing real estate solutions that foster an ecosystem for collegial interactions among industry, investors, government and academia.
Established in 2018, Pyrinas Real Estate Management Limited is the real estate arm of Aeneas Group and an affiliate of Aptorum Group. It is currently managing two laboratory facilities and one clinic facility in Hong Kong.
Aeneas Group Limited, the parent company of Aeneas Capital Limited, is a multi-disciplinary financial institution with cross border capabilities and technology services.
Aptorum Group Limited (Nasdaq : APM) is a biopharmaceutical company currently developing a portfolio of therapeutic candidates and medical devices, and is dedicated to developing and commercializing its portfolio of technologies to tackle unmet medical needs observed globally.
FinSMEs
21/05/2019