GI Partners, a private investment firm, has acquired four life sciences properties with its Essential Tech and Science Fund, totaling over 407,000 square feet. The properties include Blackstone Science Square, a functional lab building in Cambridge, Mass., and the Peninsula Lab Collection, a portfolio of three life sciences lab buildings in southern San Francisco and San Carlos, Calif.
Blackstone Science Square is a 77,000-square-foot property that is currently fully leased to life sciences tenants, including several biotechnology companies. The Peninsula Lab Collection is a 330,000-square-foot, fully leased lab property that provides tenants with modern lab infrastructure in the San Francisco Bay area, a popular location for life sciences companies and intellectual capital.
“We are thrilled to add Blackstone Science Square and the Peninsula Lab Collection to the growing portfolio of the ETS Fund,” comments John Sheputis, managing director at GI Partners and head of the ETS fund. “Cambridge and the Bay Area remain two of the nation’s most dynamic and growing real estate markets for innovation and research in the health care space. These buildings further demonstrate our emphasis on delivering state-of-the-art lab infrastructure and world class service to high growth tenants in key markets.”