Oxford Properties and Novaxia buy Paris life sciences campus

Oxford Properties Group and Novaxia have completed the acquisition of the Biocitech life sciences campus in Paris. The deal marks the first acquisition of the partnership, announced in May, to invest approximately €1 billion ($1.03 billion) to acquire and develop life sciences buildings across France.

Biocitech, located in the Romainville submarket of Paris, comprises 21,000 square meters (226,042 square feet) of lab, office and specialist storage space across seven buildings. The campus is leased to 17 occupants. Two-thirds of the occupiers are mature companies with the remaining third startups, creating a scientific community with endeavors across biotechnology, biopharmaceuticals, bioinformatics, the provision of scientific and technological services, as well as medical devices and equipment.

“Building a global life science business of scale re