Breakthrough Properties, the life-sciences real estate platform of Tishman Speyer and Bellco Capital, has made its second acquisition in the UK, having recently raised $3bn (€2.85bn) from investors.
It has bought The Vitrum Building, located on 1.8 acres inside St John’s Innovation Park in Cambridge, England.
St John’s Innovation Park and adjacent Cambridge Science Park form the Northern Cluster, a life-sciences and technology district.
“We have strong conviction in the future of the European life-sciences market and are actively exploring opportunities to deliver best-in-class research and development facilities to support the continued advancement of life-changing discoveries,” said Daniel D’Orazi, executive vice president and CIO of Breakthrough Properties.
“We are particularly excited about the prospects for continued growth throughout the Golden Triangle, where the majority of all UK life-sciences investment occurs.”
In January, Breakthrough purchased the 1.7-acre Trinity House site in Oxford, where it intends to create a purpose-built, class-A office and lab environment.
Tishman Speyer managing director Justin Woolf said: “Backed by Tishman Speyer’s global development expertise and Bellco’s deep relationships with the world’s leading life sciences research and development firms, Breakthrough Properties is uniquely positioned to conceive, create and maintain premier ecosystems throughout the world.”
