IQHQ Completes Second Equity Raise of $1.7B
San Diego-based IQHQ completed a second $1.7 billion equity raise from new and existing strategic partners. Supported by two rounds of financing, the life sciences real estate development company says it is well funded and positioned to pursue a dynamic development pipeline that includes an anticipated 4.4 million square feet of cutting-edge life science projects in Boston, San Francisco and San Diego.
The company notes the funding will also allow it to capitalize on a large and growing pipeline of high-quality life science real estate opportunities.
The raise includes a private placement financing to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and project specific equity investments. The latest raise comes nine months after IQHQ’s completion of a $770 million initial capital raise.
Subsequently, IQHQ completed strategic acquisitions of major development sites and assets in thriving life science markets including Greater Boston, San Francisco and most recently in San Diego with the Research and Development District (The RaDD pictured).
For comments, questions or concerns, please contact Dennis Kaiser