CBC HIP closes two quality sizable life sciences real estate acquisitions in China

CBC Healthcare Infrastructure Platform (CBC HIP) has closed its first project for China Life Science Infrastructure Venture (CLSIV), a joint venture established with APG in July, which is a 119,000-square-meter (1.3 million-square-foot) life sciences park located at China Bio-medicine Park in Beijing. The property comprises of eight manufacturing buildings, four R&D offices, and auxiliary facilities.

The property features an impressive roster of 18 life sciences tenants, with five listed companies with a market cap of $22 billion, including Pharmaron, a CRO and CMO company; Hotgen Biotech Co., a company providing full scenario immuno-diagnosis IVD; and Dian Diagnostics Group, a company providing medical diagnostic outsourcing and independent medical laboratory services. The asset is now 90 percent occupied with steadily growing cash flow, among which around 30 percent of the leases were signed with the effort of CBC HIP ahead of closing.

After the acquisition, CBC