National + Global + Finance | April 29, 2022

Breakthrough Properties' development pipeline includes Torrey View in San Diego

Breakthrough Properties Closes on Largest-Ever Fund for Life Sciences Real Estate

Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, has reached the final closings for the Breakthrough Life Science Property Fund. 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 $3 billion raised in fund and co-investment capital surpassed Breakthrough’s initial $1.5-billion target. It’s believed to be the largest real estate fund dedicated exclusively to the life sciences sector, excluding recapitalizations of existing portfolios, according to CBRE and JLL Research. The fund was raised from a diverse group of institutional investors, sovereign wealth funds and high net worth individuals across four continents.

Founded in 2019, Breakthrough has established itself as one of the most active players in the life science sector. It has 4.6 million square feet of projects in the pipeline across San Diego, Boston/Cambridge, Philadelphia, Amsterdam, Oxford and Cambridge, UK.

Connect

Inside The Story

Breakthrough Properties

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints