Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, announced the first closing of its Breakthrough Properties Growth Portfolio II fund. The fund will invest in a diversified portfolio of class A life sciences real estate across leading innovation clusters in the United States and Europe.
Breakthrough’s $430 million first closing amount reflects both direct capital and co-investment commitments and builds upon the achievements of Breakthrough’s $3 billion inaugural life sciences investment fund, which closed in 2022.
The only dedicated life sciences real estate manager active across the United States, United Kingdom and Continental Europe, Breakthrough used its first fund to invest in a market-leading portfolio of projects spanning nearly 6 million square feet. Its current life sciences assets encompass purpose-built developments, value-added conversions and core/core-plus properties across eight preeminent biopharma markets.
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