Second Ave

This is a specialised mixed laboratory/office building, dedicated to research and development for the pharmaceutical sector, located in the vicinity of Boston, one of the areas with the highest concentration of Biotech and Pharma activities in the world.

The property was acquired as part of a sale&lease-back transaction with a subsidiary of a large multinational pharmaceutical company.
The tenant exercised some short-term renewal options, and a buyer was found shortly afterwards. The Fund sold the operation less than a year after the acquisition, (almost) doubling the invested capital.