Breakthrough Properties, a joint venture of real estate developer/investor Tishman Speyer and investment firm Bellco Capital, plans to leverage $3 billion in investment funding to buy and build out sustainable biotech facilities in the U.S. and across the pond. With a portfolio that includes the under-construction, Boston-based 105 by Breakthrough, which gene-editing titan CRISPR Therapeutics has leased, the company has far exceeded its initial funding goal of $1.5 billion. In a stalwart show of confidence, a handful of global investors and sovereign wealth funds have helped the biotech builder double its original monetary ambitions.
The Los Angeles-based company, founded in 2019, has amassed a formidable portfolio of life sciences projects totaling 4.6 million square feet. Its $3 billion purse will back existing building projects as well as bankroll forthcoming opportunities. Breakthrough is also hoping to forestall any environmental objections to its large and widespread projects with an oath of sustainability, which entails mitigating its carbon emissions, honing its energy efficiency, fostering healthy workspaces, and limiting its overall carbon footprint.
Upping the ante on fleshing out high-quality life science properties, Breakthrough is dedicated to leading the charge with urban tech centers in the agriculture, biotech, and nutrition spaces. The company has its sights set on LEED Gold certification for its various U.S. properties as well as BREEAM Outstanding in the U.K. and EU. Breakthrough also hopes to score a Fitwel Certification, which prizes tenant well-being, for Breakthrough 105.