SCOTTSDALE, Ariz., September 21, 2022 /PRNewswire/ — GI Partners, a leading private investment firm, is continuing its technology and science property acquisition and management strategy by completing the acquisition of four life science properties totaling over 407,000 square feet for its Essential Tech + Science Fund (GI Partners ETS Fund LP, the “ETS Fund”). The properties include Blackstone Science Square in Cambridge, MAa high-quality, fully leased laboratory building, and the Peninsula Lab Collection, a portfolio of three life science laboratory buildings in South San Francisco and San Carlos, CA
Blackstone Science Square offered GI Partners the opportunity to acquire a stabilized, highly functional laboratory building in one of the largest life sciences markets in the country. The 77,000 SF property was previously converted into a laboratory and is currently fully leased to Life Sciences tenants. The building maintains an advantageous position in the local laboratory ecosystem and is home to several prominent biotechnology companies.
The Peninsula Lab Collection is a scaled portfolio of stabilized Grade A laboratory properties in two premier submarkets in the Bay Area. The 330,000 SF portfolio is currently 100% leased and offers tenants a modern and flexible laboratory infrastructure. South San Francisco continues to maintain a near 0% vacancy rate and offers unparalleled access to the Bay Area’s densest ecosystem of established life science companies and intellectual capital. San Carlos is the peninsula’s fastest growing life sciences cluster and benefits from its close proximity between UCSF and University at Stanford.
John SheputisManaging Director at GI Partners and Head of the ETS Fund, said: “We are delighted to add Blackstone Science Square and the Peninsula Lab Collection to the growing portfolio of the ETS Fund. Cambridge and the Bay Area remain two of the nation’s most dynamic and fastest growing real estate markets for healthcare innovation and research. These buildings further demonstrate our focus on providing state-of-the-art laboratory infrastructure and world-class service to high-growth tenants in key markets.”
John CurranDirector of GI Partners said: “Cambridge continues to be among the most innovative life science locations in the world and we are excited to add Blackstone Science Square to our growing portfolio. We believe a Cambridge The address is incredibly valuable to a large part of the demand pool and the building’s proximity to some of the industry’s fundamental research facilities reinforces this powerful cluster effect.”
Patrick LawlerPrincipal of GI Partners, said, “The Peninsula Lab Collection offers what we believe is a rare, scalable life sciences acquisition opportunity in two of the Bay Area’s most attractive submarkets. We are pleased to invest in a portfolio that offers stable, in-place returns with a diversified mix of emerging and established tenants. Additionally, the continued strength of market fundamentals and future growth potential offer important opportunities for long-term value creation.”
Since its inception in 2021, the ETS Fund has acquired eighteen properties covering 2.5 million square feet and is actively investing in a diverse portfolio of data center, life science properties and always-on facilities in key markets in The United States.
About GI Partners
Founded in 2001, GI Partners is a private investment firm with over 140 employees and offices in Scottdale, new York, ChicagoGreenwich Dallasand san francisco. The company has assets under management of approx $33 billion and invests on behalf of leading institutional investors around the world through its private equity, real estate and data infrastructure strategies. The private equity strategy invests primarily in healthcare, IT infrastructure, services and software companies. The real estate strategy focuses primarily on technology and life science real estate as well as other specialized real estate types. The data infrastructure strategy primarily invests in hard-asset infrastructure companies that support the digital economy. Visit www.gipartners.com for more information.
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SOURCE GI Partners
