370,000-square-foot campus will provide high quality lab space to life science and innovation tenants
Fort Worth, Texas, and San Francisco – June 28, 2022 – Alloy Properties (“Alloy”), a national life science and innovation platform backed by TPG Real Estate Partners (“TREP”), today announced it has acquired a nine-building, 370,000 square foot life science portfolio along Route 128 in suburban Boston (the “Portfolio”). Alloy acquired the Portfolio through a joint venture with Anchor Line Partners, which also manages Alloy’s nearby property, The Core at Crosby.
The Portfolio, which consists of 370,000 square feet across eight assets in Lexington and Bedford and one asset in Waltham, is 100 percent occupied, anchored by large biotechnology and pharmaceutical companies.
“The Portfolio’s desirable location and high-quality lab space is well suited to attract a diverse group of life science companies that will add to the strong ecosystem of current tenants in the Portfolio,” said Alicia Hinds, Director of Asset Management for Alloy. “With our integrated campus approach, we believe the Portfolio will continue to be in demand as a best-in-class life science and innovation space.”
The Portfolio will operate as a unified campus under the Alloy brand. Alloy is a national life science and innovation platform formed by TREP in 2020 with the purpose of bringing high-class life science and innovation facilities to clusters with strong life science company growth and demand. This investment brings the total Alloy portfolio to 3.7 million square feet, representing one of the top 10 largest life science portfolios nationally.
About Alloy Properties:
Alloy Properties is a national life science platform formed by TPG Real Estate Partners in the spring of 2020 that focuses on investing in life science and innovation campuses in the major life science markets, including Boston, San Diego, San Francisco, Seattle, Raleigh-Durham, and Atlanta. The platform focuses on acquiring office and R&D campuses that can be converted into best-in-class facilities for life science, biotech, and innovation. For more information, visit: https://alloyproperties.com.
About TPG Real Estate Partners:
TPG Real Estate Partners ("TREP") is the dedicated real estate equity investment platform of global alternative asset firm TPG. Today, TREP has $10.5 billion of assets under management. Since its inception in 2009, TREP has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe. TPG was founded in 1992 and now has approximately $120 billion of assets under management with investment and operational teams in 12 offices around the world. For more information, visit www.tpg.com.
Leslie Shribman and Courtney Powermedia@tpg.com