Brookfield forms $1.5b strategic partnership with Boston-based King Street Properties
King Street Properties, a private developer, owner and operator specializing in life sciences real estate, has formed a partnership to pursue investment in life sciences real estate across the United States with Brookfield Asset Management.
The partnership intends to invest approximately $1.5 billion in equity capital toward King Street’s life sciences real estate pipeline. In addition, 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.
“Life science is an attractive investment sector given the long-term market dynamics of an aging population and increased public and private funding to R&D,” said Lowell Baron, a managing partner and CIO in Brookfield’s Real Estate Group. “King Street’s team is best-in-class and their market leadership in