Arie Belldegrun Single Family Office Invests In Biotech Real Estate

Arie Belldegrun Single Family Office Invests In Biotech Real Estate

Arie Belldegrun sold his company Kite Pharma for $11.9B to Gilead Sciences in 2017, which increased the assets under management of his single family office “Bellco Capital”. Bellco’s investments are mainly focused on biotech ventures. Through a new joint venture with Tishman Speyer, Belldegrun’s investment firm will work on biotech real estate development. If you’re looking for more single family offices in the U.S. consider our list of single family offices in the United States.

Bellco Capital Family Office joins forces with Tishman Speyer to invest in laboratories

Biotech startups and pharma companies need specialized properties: safety standards must be met, special technology (like sophisticated air ventilation or waste disposal systems) must exist. Especially for young companies, it is hard to find the right property for pursuing their research. The joint venture with Tishman Speyer – called “Breakthrough Properties” wants to change that. Breakthrough bought a first $80M 0.4 hectare development site in Boston’s Seaport District. In total, Breakthrough has development rights up to 250,000 square feet. The property is planned to be finished in 2021. Boston is especially important for the biotech industry with leading research hubs like Harvard University or MIT. Boston is home to companies like Amgen, Boston Scientific or Editas Medicine. Besides the property itself, Breakthrough will also offer further services for the tenants. According to Bloomberg, Belldegrun might also invest in inhabiting startups through his venture capital firm Vida Ventures.

Belldegrun’s investments in biotech companies

Besides being a serial entrepreneur, Belldegrun is also an active investor.  In 2017, he founded together with other industry veterans and researchers biotech fund Vida Ventures. Vida has $295M assets under management and invested in companies like Pionyr Immunotherapeutics, Kadiant or Kronos Bio. Furthermore, Belldegrun is the co-founder of Allogene Therapeutics which raised $324 in an IPO on the NASDAQ. The Belldegrun single family office Bellco Capital is also directly investing in biotech startups. Bellco is headquartered in the Greater Los Angeles Area.

Sources
Bloomberg, 04.08.2019
Bill Oxford, 04.08.2019

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