ExchangeRight’s sister company, Telos Capital, has brought its TCF18 Norwood, MA Biotech Facility, LLC investment full cycle on behalf of its investors.
In slightly more than a year, the investment generated total returns of approximately 142 percent to 143 percent of originally invested equity and a net investor annual internal rate of returns of approximately 38 percent annualized, three times higher than its original base-case projected rate of return.
TCF18 Norwood, MA Biotech Facility, LLC was invested in an office building in Norwood, Mass., with research and development space that was redeveloped and net-leased on a 15-year term to Moderna, a public biotech company with one of the largest IPOs in biotech history. Moderna has continued to remain in the national news as one of the leaders in the race to produce a vaccine for the COVID-19 virus.
“Moderna’s commitment to the building through tenant improvements, and the fact that Moderna is a frontrunn
