Longfellow funds buys life science portfolio for $405m

An affiliate of Longfellow Strategic Value Fund has paid $405 million for a core life science portfolio located in the heart of the Research Triangle, N.C., one of the top innovation hubs in the United States.

Bain Capital Real Estate was the seller.

The 1.34 million-square-foot portfolio consists of 18 buildings on four campuses, located within Keystone Technology Park and Imperial Center. Currently 94 percent leased, the portfolio boasts a diverse, intellectual tenant roster with 51 percent of tenants housing mission critical operations on site. The buildings feature a dynamic STEM ecosystem with state-of-the-art buildouts and robust amenities, including fitness centers, outdoor amenity space and lounges.

The portfolio benefits from its location in and adjacent to the world-renowned Research Triangle Park, which is home to some of the world’s leading life science innovators and was recently ranked one of the top five life science clusters in the nation. It h