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Sign in Sign up for a FREE subscriptionIvanhoé Cambridge Partners with Lendlease to invest in life science developments
Ivanhoé Cambridge and Lendlease have joined forces to launch a new life science joint venture that will deliver state-of-the-art labs, offices and manufacturing spaces in high-growth life science clusters across the United States.
Leveraging the success of their partnership to develop 60 Guest Street in Boston, Lendlease and Ivanhoé Cambridge plan to invest an initial $500 million of equity, with aspirations to grow the portfolio through additional equity investments over time.
The partnership will focus on development opportunities while exploring retrofits in select clusters — more specifically, the Boston, San Francisco Bay Area and San Diego markets, with additional targets including the New York/New Jersey metropolitan region, Philadelphia, Chicago, Los Angeles and Orange County.
Ivanhoé Cambridge will be the majority partner in the venture, while Lendlease will lead development and oversee construction on all projects, incorporating both firms’
