Record raising of a real estate fund in the field of life sciences: $ 3 billion
Breakthrough Properties The mutual fund for the investment company of the Baldgreen family and Tishman Speyer has raised $ 3 billion to establish campuses in the life sciences.
Among the investors in the fund, the insurance and finance companies Harel and Clal, who invested more than a billion shekels
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01/05/2022
Sunday, 01 May 2022, 09:54 Updated: 10:11
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The Breakthrough Properties Fund, a joint venture between real estate firm Tishman Speyer and Bellco Capital, owned by the Baldgreen family, has completed the largest ever fundraising real estate fund in the non-transfer of existing assets, according to real estate consulting firms. CBRE and JLL International Fund.
The
fund raised $ 3 billion - well beyond the initial target of $ 1.5 billion, through direct capital and joint investments.
From a diverse group of investors, including the Israeli insurance and financial giants Harel Insurance and Finance, Clal Insurance and Finance and colleagues, who are anchor investors in a fund that together invested over $ 350 million in the venture, along with institutional investors, sovereign wealth funds and private investors from around the world.
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In collaboration with ICC
Project 4. "Torrey View by Breakthrough" project (Photo: BREAKTHROUGH)
About a year ago, Harel Insurance and Finance first made a joint investment with Breakthrough in the field of life sciences, in a large initiation project with a total investment of $ 500 million.
This is a mixed-use project to be established on the grounds of Harvard University, located in one of the most prominent areas of the life sciences industry in the city of Boston, USA
. Work of life sciences companies, in areas such as biotechnology, pharmaceuticals, medical technology, genetics and medical devices.
Among the Breakthrough projects: "105 by Breakthrough" in Boston leased to CRISPR Therapeutics which will start operating later this year, the "Torrey View by Breakthrough" project whose construction began in 2021 and will cover an area of approximately 157,000 square meters, campus Research and development in an area of about 40 dunams on which a preliminary lease contract was signed with the biological arm of the medical technology company BD, Torrey Place Campus - an office conversion project for laboratories in San Diego leased to a variety of innovative companies, including Tandem Diabetes Care, Janux Therapeutics and Protego Biopharma, Incego Biopharma .
Dan Baldgreen, Co-Founder and CEO of Breakthrough (Photo: Knesset Spokeswoman, BREAKTHROUGH)
In all projects, Breakthrough aims to promote sustainability, with an emphasis on improving energy efficiency, reducing carbon emissions and creating healthy jobs.
Breakthrough is working to achieve LEED Gold certification in all of its U.S. assets and BREEAM Outstanding certification in all of its projects in Europe.
Dan Baldgreen, Co-Founder and CEO of Breakthrough
: In the search for life-saving treatments,
we are happy to help our institutional clients and partners and thank the investors for their trust in us. Enabling biotechnological innovation bodies to develop by addressing the long-term business needs of companies. "
About the partners behind the recruitment
Breakthrough Capital, established in 2019 as a joint venture between Tishman Speyer, which owns, develops and invests in real estate, and biotechnology investment company Bellco Capital, is a life science real estate development company that leverages cross-sectoral collaboration to create innovative work environments. And scientific breakthroughs.
Breakthrough Properties' vision is to acquire, develop and operate the leading life sciences assets in urban technology centers around the world as well as to support scientific innovation in the fields of biotechnology, agriculture and nutrition.
Breakthrough combines decades of Tishman Speyer's experience in global real estate development with Bellco Capital's biotechnology venture to redefine environments in which companies can create two-life treatments. The fund invests billions of dollars in 40 life sciences companies around the world. For the foundation, Aryeh Baldgreen and Rob Speyer serve as co-chairs and Rebecca Baldgreen serves as a board member.
Rob Speyer, CEO of Tishman Speye (Photo: TISHMAN SPEYER)
Tishman Speyer is a leading company that owns, develops, operates and manages real estate investments in 31 key markets in the US, Europe, Asia and Latin America.
The company is engaged in the construction and management of office space, residences and retail for industry-leading tenants as well as advanced life sciences centers through the Breakthrough Properties venture.
Since its inception in 1978, Tishman Speyer has acquired, developed and operated 498 properties in an area of approximately 6.7 million square meters worth more than $ 124 billion (US).
Among the company's assets: Rockefeller Center in New York, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood that is being built today in San Francisco.
Dr. Rebecca Baldgreen, Founder of Bellco Capital (Photo: BELLCO CAPITAL)
Bellco Capital is an investment company founded by Dr. Rebecca Baldgreen, and Dr. Arie Baldgreen, in 2003 and is a center for entrepreneurship in the life sciences.
In its operations, Bellco establishes biopharma companies through its partnership with New River Life Sciences Investment Company, which operates in New York including Kite pharma, Agensys, Cougar, Allogene, Kronos, Neogene, and invests in life science companies through Vida Ventures, a leading venture capital firm in the field.
The company also builds dedicated offices, research laboratories and manufacturing sites for companies in the life sciences, biotechnology and pharmaceutical industries.
This deployment enables Bellco to have even wider access to leading bodies and innovative technologies in the life sciences.
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