{"id":1004578786,"date":"2022-05-02T04:05:57","date_gmt":"2022-05-02T12:05:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004578786"},"modified":"2022-12-09T02:51:24","modified_gmt":"2022-12-09T10:51:24","slug":"breakthrough-properties-closes-3b-life-science-fund","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/","title":{"rendered":"Tishman Speyer JV Closes $3B Life Science Fund"},"content":{"rendered":"
\"The<\/a>

Rendering of The 105 in Boston. Image courtesy of Breakthrough Properties<\/p><\/div>\n

Breakthrough Properties<\/strong> has reached the final closings for its Breakthrough Life Science Property Fund, which raised $3 billion in direct capital and co-investments.<\/p>\n

A joint venture of Tishman Speyer<\/strong> and Bellco Capital<\/strong>, Breakthrough will use the fund \u201cto scale a global portfolio of best-in-class ecosystems for dynamic early-, mid-, and late-stage life science companies.\u201d<\/p>\n

The $3 billion in fund and co-investment capital massively surpassed Breakthrough\u2019s initial $1.5 billion target. The fund is the largest real estate fund dedicated exclusively to the life science sector, excluding recapitalizations of existing portfolios, according to Breakthrough, citing CBRE<\/strong> and JLL <\/strong>Research.<\/p>\n

It reportedly was raised from a diverse group of institutional investors, sovereign wealth funds and high-net-worth individuals across four continents.<\/p>\n

\n

READ ALSO<\/strong>: A Deep Dive into Sustainable Life Science Buildings <\/a><\/p>\n

\n

Breakthrough was formed in 2019 as a joint venture between Tishman Speyer and biotechnology investment firm Bellco Capital and has already amassed 4.6 million square feet of projects in the pipeline across San Diego, Boston\/Cambridge, Philadelphia, Amsterdam, as well as Oxford and Cambridge in the U.K.<\/p>\n

Breakthrough will use the newly raised funds to finance its ongoing developments, consisting of a mix of ground-up campus developments, lab conversions and StudioLabs, the company\u2019s proprietary flex lab program geared toward hyper-growth start-ups.<\/p>\n

Tishman Speyer CEO and Breakthrough Co-Chairman Rob Speyer commented that there is an acute and accelerating need for well-located, cutting-edge lab space and that the new fund enables the company to deliver more such projects across the U.S. and Europe.<\/p>\n

Speed of life<\/h2>\n

The venture\u2019s portfolio includes The 105 by Breakthrough, at 105 W. First St. in Boston, which is fully preleased to CRISPR Therapeutics<\/a> and will open later this year.<\/p>\n

In 2021, Breakthrough broke ground on its 515,000-square-foot Torrey View by Breakthrough development, a 10-acre R&D campus in San Diego, where the biosciences arm of global medical technology company BD (Becton, Dickinson and Co.) signed a major prelease.<\/p>\n

The U.S. life science industry is thriving, with venture capital pouring at an historic clip into companies at all stages of growth, even as National Institutes of Health<\/strong> funding is expected to rise, according to a first-quarter report from Colliers<\/strong>. The Boston and San Francisco metro areas lead the U.S. in attracting VC deals, garnering almost 60 percent of them.<\/p>\n

In its 2022 Global Investor Outlook Report, Colliers notes that \u201clife science was the most popular alternative or specialized asset class for the second year running.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Raised from investors on four continents, this is the largest vehicle of its kind, according to the sponsors.<\/p>\n","protected":false},"author":882,"featured_media":1004578790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21783,21754,23891,21742,21747],"tags":[46343,49894,32789,35498,32796,33224],"class_list":["post-1004578786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-investment","category-medical-office","category-national","category-latest","category-office","tag-bellco-capital","tag-breakthrough-properties","tag-cbre","tag-colliers","tag-jll","tag-tishman-speyer"],"acf":[],"yoast_head":"\nTishman Speyer JV Closes $3B Life Science Fund - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Breakthrough Properties has closed its Breakthrough Life Science Property Fund, which raised $3 billion in direct capital and co-investments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tishman Speyer JV Closes $3B Life Science Fund\" \/>\n<meta property=\"og:description\" content=\"Breakthrough Properties has closed its Breakthrough Life Science Property Fund, which raised $3 billion in direct capital and co-investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-02T12:05:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:51:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"797\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/\",\"name\":\"Tishman Speyer JV Closes $3B Life Science Fund - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg\",\"datePublished\":\"2022-05-02T12:05:57+00:00\",\"dateModified\":\"2022-12-09T10:51:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Breakthrough Properties has closed its Breakthrough Life Science Property Fund, which raised $3 billion in direct capital and co-investments.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg\",\"width\":797,\"height\":600,\"caption\":\"Rendering of The 105 in Boston. Image courtesy of Breakthrough Properties\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tishman Speyer JV Closes $3B Life Science Fund\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tishman Speyer JV Closes $3B Life Science Fund - Commercial Property Executive","description":"Breakthrough Properties has closed its Breakthrough Life Science Property Fund, which raised $3 billion in direct capital and co-investments.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/","og_locale":"en_US","og_type":"article","og_title":"Tishman Speyer JV Closes $3B Life Science Fund","og_description":"Breakthrough Properties has closed its Breakthrough Life Science Property Fund, which raised $3 billion in direct capital and co-investments.","og_url":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-05-02T12:05:57+00:00","article_modified_time":"2022-12-09T10:51:24+00:00","og_image":[{"width":797,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/","url":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/","name":"Tishman Speyer JV Closes $3B Life Science Fund - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg","datePublished":"2022-05-02T12:05:57+00:00","dateModified":"2022-12-09T10:51:24+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"description":"Breakthrough Properties has closed its Breakthrough Life Science Property Fund, which raised $3 billion in direct capital and co-investments.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg","width":797,"height":600,"caption":"Rendering of The 105 in Boston. Image courtesy of Breakthrough Properties"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-3b-life-science-fund\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Tishman Speyer JV Closes $3B Life Science Fund"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Rendering-of-The-105-by-Breakthrough-in-Boston-MA.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004578786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004578786"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004578786\/revisions"}],"predecessor-version":[{"id":1004578995,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004578786\/revisions\/1004578995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004578790"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004578786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004578786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004578786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}