Arie Belldegrun aims to boost US biotech industry through real-estate deal
Breakthrough Properties will provide various business development services to help tenants grow, says deal-making oncologist
16 July 2019 - 17:51
Boston/New York — A deal-making oncologist who sold his pharmaceutical company for almost $12bn is launching a real-estate venture to bolster the growth of the biotechnology industry.
Arie Belldegrun’s family office, Bellco Capital, has entered into a joint venture with New York-based real-estate developer Tishman Speyer to start Breakthrough Properties, the companies said on in a statement on Tuesday. The venture said it bought its first property, a 0.4ha development site in Boston’s Seaport District, for $80m, and is exploring other acquisitions in the area as well as in San Francisco...
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