NexPoint, an alternative investment firm, announced the acquisition of two life sciences industrial properties located in Philadelphia, Pennsylvania.
The properties were acquired from Frontida Biopharm LLC, a company in the Adare Pharma Solutions group, which is a global technology-driven contract development and manufacturing organization focused on oral dosage forms for the pharmaceutical industry.
The company did not disclose the purchase price for the properties.
The properties were indirectly acquired by NexPoint Life Sciences II DST, a Delaware statutory trust seeking to raise $42 million in equity from accredited investors via a private placement offering. NexPoint Life Sciences II DST aims to raise capital from investors looking for exposure to the growing life sciences real estate sector.
The real estate acquisition includes nearly 18 acres of land across the two separate properties and more than 250,000 square feet of interior space where Frontida Biopharm LLC will remain the tenant. The first property comprises research and development, production and warehouse facilities capable of producing three billion tablets and capsules annually. The second property features distribution facilities and packaging capacity for four billion tablets and capsules annually and allows for potential expansion on its 12-acre campus.
“As the life sciences industry continues to evolve, we see increasing demand for quality properties to support companies across all stages of innovation,” said Matt McGraner, NexPoint Real Estate Advisors’ chief investment officer. “We are committed to expanding our footprint in this critical sector with modern facilities that help life sciences companies do their best work.”
NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles.
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