KKR and Alexandria Real Estate Equities have announced a $475 million joint venture investment by capital accounts advised by KKR in Alexandria’s majority ownership interest in Campus Point by Alexandria Megacampus, a nearly 2 million-square-foot life sciences Megacampus in San Diego.
KKR has acquired a 49 percent noncontrolling equity interest in Alexandria’s Campus Point investment entity, representing approximately 28.5 percent indirect ownership in the underlying joint venture.
The investment provides Alexandria with flexible, long-term capital to support continued development, leasing and property enhancements at the campus.
Campus Point is located in San Diego’s University Town Center submarket, adjacent to the University of California San Diego, the Salk Institute and Scripps Research, and is home to a roster of leading global pharmaceutical, biotechnology, research organizations and technology companies. The Megacampus includes tenants Novartis, Br
