Tishman Speyer and Bellco Capital, an investment firm founded by biotechnology entrepreneurs Drs. Rebecka and Arie Belldegrun, have formed Breakthrough Properties.
The new company will acquire, develop and operate life science properties in technology centers around the world.
Board co-chairs for Breakthrough are Bellco’s Arie Belldegrun and Tishman Speyer president Rob Speyer.
Dan Belldegrun, a long-term member of Tishman Speyer’s Acquisitions and Development team, has been appointed CEO.
Breakthrough has acquired its first property located in the Boston market. The development site is situated by the Red Line on a one-acre parcel in Boston’s Seaport District and comes with 250,000 s/f of development rights. Completion of the project is anticipated in 2021.
Bellco has a track record of co-founding and investing in companies, including Kite Pharma and Allogene Therapeutics.
With Tishman Speyer’s development accumen, the partnership will facilitate the creation of best-in-class physical infrastructure, with curated tenancy, collaborative amenity programming and services, and dynamic tenant spaces that meet the needs of early, mid and late stage companies as they work to develop new medical treatments
Bellco Capital’s Co-Founder Arie Belldegrun, M.D., FACS said, “In the last decade, the life science industry has experienced unprecedented productivity, innovation and scientific discovery as biotechnology and technology converge. Life science entrepreneurs deserve to have environments that foster scientific innovation and allow them to focus their attentions on creating exciting new therapies that change how we fight disease and improve lives for generations to come. The importance of creating and expanding well-located centers of excellence in the world’s key life science research centers is paramount.”
Rob Speyer commented, “Professionals in the life sciences sector are responsible for countless breakthroughs in service to humanity. They deserve physical environments that are well located, highly functional and otherwise superior.
“Now, working closely together, we intend to produce the next generation of best-in-class specialized research centers around the world.”