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King Street, Brookfield Form Life Science Real Estate JV
Boston-based King Street Properties, which specializes in life science real estate, has formed a partnership to pursue investment in life science real estate across the U.S. with a Brookfield Asset Management private real estate fund.
The partnership intends to invest approximately $1.5 billion in equity capital towards King Street’s life science real estate pipeline. Additionally, Brookfield entered into an agreement to purchase an interest in King Street’s operating platform.
King Street continues to own and operate its existing portfolio of 2.5 million square feet of stabilized assets and 2.3 million square feet of assets under development.
“The potential in the life science real estate market has never been greater, and the new Brookfield/King Street combination will allow us to match the expertise we have acquired over 20 years in the sector with Brookfield’s substantial financial resources and reach,” said Thomas Ragno, principal and founder of King Street Properties.
- ◦Sale/Acquisition