Breakthrough Properties, a Los Angeles, CA.based joint venture of Tishman Speyer and Bellco Capital, closed the Breakthrough Life Science Property Fund, at $3 billion.
The venture raised $3 billion in direct capital and co-investments, to scale a global portfolio of ecosystems for dynamic early-, mid-, and late-stage life science companies.
The fund and co-investment capital was raised from a diverse group of institutional investors, sovereign wealth funds and high net worth individuals spanning four continents.
Founded in 2019, 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.
Through a range of ground-up campus developments, lab conversions and StudioLabs, the company’s proprietary flex lab program geared toward hyper-growth startups, Breakthrough provides environments to the full spectrum of life science innovators – ranging from venture-backed discovery companies to established big pharma anchors. It will continue to leverage the market expertise and vast relationship networks of Tishman Speyer, Bellco Capital and its Scientific Advisory Board to create environments for leading biotechnology innovators and offers services to support their long-term business needs.
Led by Co-Founder and Chief Executive Officer Dan Belldegrun, Breakthrough has a portfolio that includes The 105 by Breakthrough in Boston, which is fully leased to CRISPR Therapeutics and will open its doors later this year. In 2021, itbroke ground on its 515,000-square-foot Torrey View by Breakthrough development, a 10-acre research and development campus in San Diego which signed a major prelease with the biosciences arm of global medical technology company BD (Becton, Dickinson and Company). Its Torrey Plaza campus, an office-to-lab conversion in San Diego, is leased to a range of innovative companies, including Tandem Diabetes Care, Janux Therapeutics and Protego Biopharma, Inc.
FinSMEs
02/05/2022