Breakthrough Properties Secures $430 Million for Second Growth Fund

New updates have been reported about Breakthrough Properties (PC:BREAK)

Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has announced the first closing of its Breakthrough Properties Growth Portfolio II fund, raising $430 million. This fund aims to invest in Class A life science real estate across key innovation hubs in the U.S. and Europe. The initial closing builds on the success of Breakthrough’s inaugural $3 billion fund, which closed in 2022 and established a leading portfolio of nearly six million square feet of life science projects. The company’s assets include purpose-built developments and value-add conversions in major biopharma markets, with over 60% of its portfolio leased to top-tier companies like Pfizer and AstraZeneca.

CEO Dan Belldegrun emphasized the strategic timing of the fund, citing favorable market conditions to acquire high-quality assets at attractive prices. The fund’s investors include global asset managers and pension funds, reflecting strong confidence in Breakthrough’s approach. The company plans additional closings in 2026, focusing on a diverse range of life science assets with a target of value-add returns. Breakthrough’s strategy leverages its deep expertise and extensive network, supported by Tishman Speyer and Bellco Capital, to capitalize on emerging opportunities. The firm remains committed to sustainability, aiming for LEED Gold and BREEAM Outstanding certifications for its projects. This new fund marks a significant step in Breakthrough’s mission to develop premier life science environments that support scientific innovation.