The Areus I fund closes the acquisition of a portfolio of Life Science/Tech office buildings in the Rancho Bernardo district of San Diego, California.
The properties will undergo a major redevelopment with the aim of increasing and consolidating their use with laboratories and infrastructures specialised in biotech and pharma research. The “value-add” project involves an investment of approximately $53M aimed at improving the quality of the asset, which will also be able to respond to pandemic needs.