GI Partners life sciences real estate strategy adds three East Coast properties

San Francisco-based private investment firm GI Partners just added 419,000 square feet worth of life sciences assets to its portfolio with three new acquisitions in key East Coast industry hubs.

The acquisitions were made on behalf of GI Real Estate Essential Tech + Science Fund (ETS Fund), which was launched last July to invest in real estate assets that operate around the clock in order to support mission-critical technology and life sciences industry operations.

The new acquisitions are:

  • Regency Woods, a 152,000 square feet class A, six-story suburban office property with established pharma tenants and future lab conversion potential in Cary, North Carolina, which offers convenient access to the burgeoning Research Triangle Park in the Raleigh-Durham metropolitan area.
  • 51 Melcher Street, a 103,000 square feet nine-story urban lab conversion property located in Boston’s thriving Seaport life sciences district. GI Partners believes the base building is a good candidate for Class A wet lab conversion in a high-demand market.
  • 3 Burlington Woods, a 164,000 square feet four-story office building located in Burlington, a rapidly growing suburban Boston life science submarket.

“These properties mark a new foray for the ETS Fund into two critical life science ecosystems widely recognized for their rich talent pools, anchor research and academic institutions, and robust capital investment,” said GI Partners Principal John Curran. “We will seek to leverage our extensive knowledge of these and other top tier lab markets in order to expand our life science presence through various transaction structures and sourcing channels.”

The value of the acquisitions was not disclosed. GI Partners said it has raised over $32 billion in capital from global institutional investors to support its private equity, real estate, and data infrastructure strategies.

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