Barings acquires Bay Area life sciences portfolio

Barings has acquired a portfolio of three life sciences assets totaling 228,025 square feet in Fremont, Calif., from Angelo Gordon & Company. Lincoln Property Company has joined Barings in the venture, and Newmark has facilitated the transaction.

Terms of the acquisition were not disclosed.

The portfolio, fully Good Manufacturing Practice (GMP) compliant, contains ideal life sciences building characteristics, including clear heights of more than 20 feet, a minimum of 2,000 amps of power, abundant dock-high and at-grade doors, and 3.4x parking ratios. Each of the three buildings offers between 50,000 and 100,000 rentable square feet with a first floor designed for lab and manufacturing use and a mezzanine floor for offices and conference rooms. Barings has plans in place for nearly $20 million of interior and exterior improvements and enhancements across the portfolio.

“These life sciences assets are a tremendous addition to Barings’ portfolio of state-of