Breakthrough Properties raises $3b to develop next generation life-science ecosystems

Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, today announced 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 best-in-class 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 is 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 spanning four continents.

Founded in 2019, Breakthrough has established itself as one of the most active players in the life-science sector with 4.6 million square feet of projects in the pipeline across San D