Brookfield Asset Management buys science, innovation and technology real estate platform

A fund managed by Brookfield Asset Management has acquired Arlington, a U.K. science, innovation and technology real estate platform, from TPG Real Estate Partners (TREP), the dedicated real estate equ ity platform of global alternative asset firm TPG, for £714 million (€834 million/$993million). Arlington’s 36 assets are primarily concentrated within campus sites in the U.K.’s Oxford-Cambridge-London “Golden Triangle,” Europe’s leading research and development destination. With a portfolio comprising 1.6 million square feet of standing assets and 1 million square feet of near-term development potential, Brookfield will leverage its development expertise and global relationships in the sector to further build out centers of excellence, given the increasing demand for this fast-growing sector. Arlington has an experienced management team with intimate knowledge of the sector and an established asset management platform.

The acquisition of Arlington complemen