NEW YORK and LOS ANGELES, November 23, 2020 /PRNewswire/ — Breakthrough Properties (“Breakthrough”), a joint venture formed in 2019 by Tishman Speyer and Bellco Capital (“Bellco”), have completed the initial closings of the Breakthrough Life Science Property Fund (the “Fund”). The company has, in total, raised more than $1 billion in capital for the Fund and in co-investments. Breakthrough is seeking additional capital, including for the perpetual life real estate investment vehicle that was created as part of the Fund, to build a portfolio of world-class life science research properties.

The Fund seeks to develop and acquire state-of-the-art laboratory facilities in major biotechnology markets around the world. The Breakthrough Properties team will leverage the market expertise and extensive relationship networks of Tishman SpeyerBellco Capital and the Breakthrough team to rapidly grow a best-in-class portfolio and deliver full-service ecosystems to meet the changing needs of life science innovators.

Supported by the combined resources of companies, the Fund intends to create dynamic environments that foster collaboration between leaders in the life sciences industry and strategic research institutions, with the aim of enabling entrepreneurs and researchers to make life-changing discoveries at every stage of development. These environments should include best-in-class physical infrastructure, with curated tenancy, collaborative amenities and services, and dynamic tenant spaces that meet the needs of early-stage, mid-stage, and late-stage businesses as they work to grow their new medical treatments.

The Fund’s first closings come after Breakthrough announced in July that a leading gene-editing company, CRISPR Therapeutics, had signed a 263,500 square foot lease for “The 105”, a new development located at 105 West First Street at Bostonwhose delivery is scheduled for early 2022. The full construction lease transaction was concluded just one year after the acquisition of the site in July 2019 and four months after the inauguration.

Co-founder and CEO of Breakthrough Dan Belldegrun said: “Breakthrough is uniquely positioned to support a new era in life sciences and help innovators around the world pursue life-changing discoveries. We are delighted to have established our primary real estate investment vehicle with dedicated partners who will allow us to act quickly on future opportunities.”

Rob Speyer, CEO and co-founder of Tishman Speyer, said, “The demand for modern facilities for life science research is enormous. Going forward, we aim to be a major provider of premier specialist centers – providing a comprehensive ecosystem of support for true innovators seeking breakthrough science. Our life sciences real estate program is off to a good start with The 105 and other investments underway.

Chairman of Bellco and co-chairman of Breakthrough Arie BelldegrunMD, FACS, said, “The life sciences industry has seen unprecedented productivity, innovation and scientific discovery in recent years as biotechnology and technology converge. The events of 2020 have further fueled the need for scientific innovations. With Breakthrough, we have created a unique platform to provide mission-critical facilities to those life science companies and entrepreneurs that support their focus on creating new therapies that change the way we fight disease and improve the lives of future generations. »

About Breakthrough Properties (
Breakthrough Properties is a life sciences real estate development company that leverages cross-industry collaboration to deliver environments that foster innovation and scientific breakthroughs. Revolutionary combine harvesters Tishman Speyer decades of experience in global real estate development with biotech entrepreneurship from Bellco Capital to reimagine environments where companies can create life-changing therapies for patients. At Breakthrough, we seek to be a home for scientific discovery and innovation because we understand what you do, how you do it, and why you do it.

On Tishman Speyer (
Tishman Speyer is a leading owner, developer, operator and manager of first-class real estate investments in 27 key markets across United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail space for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties business. With global vision, on-the-ground expertise and a personalized approach, we are unrivaled in our ability to drive innovation, quickly adapt to global and local trends and proactively anticipate our clients’ evolving needs. By focusing on health and wellness, creating lighted spaces, and customer-centric initiatives such as our tenant amenities platform, ZO., and our flexible space and coworking brand, Studio , we take care not only of our physical buildings, but of the people who inhabit them on a daily basis. Since our creation in 1978, Tishman Speyer acquired, developed and operated 424 properties, totaling 184 million square feet, with a combined value of approximately $97 billion (WE). Our current portfolio includes iconic assets such as Rockefeller Center in New York Citythe springs in ShanghaiTaunusEnable Frankfurt and the Mission Rock neighborhood under construction at San Francisco.

About Bellco Capital (
Bellco Capital is a direct investment firm founded in 2003 by Rebecka Belldegrun, MD and Arie Belldegrun, MD, FACS. Bellco is focused on deploying capital to create and support companies with bold ambitions for exponential transformation in life sciences as well as growth in real estate, consumer products, media and other sectors. Bellco’s more recent deep and integrated relationships with life sciences incubator Two River Group and venture capital firm Vida Ventures provide even greater reach and visibility for passionate leaders and innovative technologies in life sciences. the life. Together with its partners, Bellco has a long history of creating and investing in companies that change the paradigm of patient care. Bellco’s most notable impact has been leading the field of cell therapy with the creation of Kite Pharma, acquired by Gilead Sciences in 2017 for $11.9 billion, and Allogene Therapeutics, the second-largest biotech IPO of 2018. Bellco’s other significant investments include Agensys, ByHeart, Cell Design Labs, Cougar Biotechnology, First Media, Hubble, Kronos Bio, Neogene and UroGen Pharma. For more information, please visit

Forward-looking statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from what is expressed or anticipated in these forward-looking statements. Further, Breakthrough Properties disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes.

Non-US persons

This press release is not for distribution, directly or indirectly, outside the United States and is not directed to investors located in non-US jurisdictions.

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