23 November 2020
Dutch institutional real estate manager Bouwinvest Real Estate Investors has invested $60 million in life science office buildings across the United States on behalf of its North America Mandate. Bouwinvest’s participation in Blackstone’s recapitalisation of BioMed Realty brings it closer to its goal of growing its North American portfolio to $2 billion by 2022, from $1.65 billion currently.
Life science real estate in the US is experiencing solid demand fuelled by growth in publicly and privately funded biomedical research. BioMed’s assets are primarily located in the top-tier life science clusters in Boston, San Francisco, San Diego and Seattle, where biomedical companies in close proximity to medical universities and hospitals are able to tap into the local talent pool.
Gijs Plantinga, Bouwinvest Director North American Investments, said: "This exceptional investment opportunity meets our Real value for life objectives by creating value in both financial and social terms. Our investment not only provides an attractive long-term return for Dutch pensioners, but also helps facilitate important medical research."
Bouwinvest opened a satellite office in New York in September 2020, where Senior Portfolio Manager Bert van den Hoek is located, as part of the company’s strategy to grow further in North America in coming years. The office will enable Bouwinvest to refine its search for investment opportunities, such as this one. Bouwinvest sees additional long-term opportunities in affordable housing, single-family rentals and logistics in North America, as well as in alternative segments including life science office and data centres.