Creative Science Properties forms new REIT, raises $770m
Creative Science Properties has plans to change its name to IQHQ.
It also completed a $770 million equity raise, including a private-placement financing to qualified institutional buyers under Rule 144A of the Securities Act of 1933, and project-specific equity investments. Investment banker Raymond James led the financing. The raise and the new IQHQ brand represent the team’s unique ability to identify opportunities that support its partners in giving progress a home.
“Interest in the offering was very strong, particularly because the senior management team has an undeniable track record of driving investor performance and growing public REITs,” said Jamie Graff, managing director, co-head of real estate of Raymond James.
Alan Gold, executive chairman of IQHQ and a pioneer of the life science real estate asset class, has teamed with experienced life science real estate veterans. Steve Rosetta will serve as CEO; Tracy Murphy will serve as president; and Jo