#USA #Los Angeles #Tishman Speyer #Breakthrough Properties #Bellco Capital

Breakthrough Properties Secures $430 Million for Expansion Plans

Los Angeles, November 17, 2025 — Breakthrough Properties, a collaboration between Tishman Speyer and Bellco Capital, recently announced that it has successfully closed its first round of funding for the Breakthrough Properties Growth Portfolio II, raising a remarkable $430 million. This raising marks a significant step in expanding its portfolio of Class A life science real estate across top innovation hubs in both the United States and Europe.

Building on Success

This recent closure adds to the success of the firm’s inaugural life science investment fund, which amassed $3 billion and concluded in 2022. The current fund's impressive figure is comprised of not only direct capital contributions but also co-investments from a variety of institutional and private investors, such as global asset management firms, pension funds, and family offices. The company plans to conduct additional closings for this fund in 2026.

The properties within the portfolio will dive deeper into asset classes that are not just top-tier in terms of their physical location but are also essential for the life sciences sector. Breakthrough Properties has illustrated that its seasoned management has successfully acquired, developed, and managed life science real estate, leading to substantial growth in tenant occupancy and satisfaction.

Strategic Response to Market Dynamics

Dan Belldegrun, CEO of Breakthrough Properties, remarked, "This closing aligns with the most compelling investment window we've seen in years. Transitory market dynamics have created opportunities to acquire prime assets at favorable pricing, allowing us to exploit the structural advantages of the life sciences sector. The incredible progression of scientific research is accelerating, making it an opportune time to invest."

Looking at the projects already underway, Breakthrough has developed a remarkable portfolio that includes over six million square feet spread across vital biopharma markets. Signature projects like Torrey Heights in San Diego and One Helix in Amsterdam have attracted the attention of some of the world’s leading life science companies. In fact, an impressive 60% of Breakthrough's global portfolio is currently leased to reputable investment-grade firms including Pfizer and Roche.

Commitment to Quality and Sustainability

Breakthrough Properties' mission underscores a deep commitment to sustainability, targeting LEED Gold certification for developments in the U.S. and BREEAM Outstanding ratings across its European projects. The company leverages innovative strategies to ensure that their buildings not only meet but exceed the evolving standards of the life sciences industry.

The leadership team, combining the expertise of Tishman Speyer and Bellco Capital, has established a user-driven approach that delivers not only high-quality workspaces but also ensures that environments foster collaboration and innovation among researchers and scientists.

Rob Speyer, CEO of Tishman Speyer and co-chairman of Breakthrough, emphasized confidence in the fund's trajectory by stating, "The first close of Breakthrough's second fund demonstrates the trust we've built with our investors. Our previous successes have shown proof of concept, and this new fund will allow us to scale further."

Future Growth and Opportunities

With life sciences experiencing significant growth, particularly given the recent global health challenges, Breakthrough Properties is well-positioned to capitalize on the surging demand for specialized real estate in healthcare and biotechnology sectors. Their strategic investments are expected to yield favorable returns, not just financially but also in fostering scientific advancements that could improve patient care across the globe.

In conclusion, Breakthrough Properties is not just poised to redefine life science real estate but to significantly contribute to the larger mission of facilitating groundbreaking innovations in health science. This $430 million funding round is merely the beginning as the company gears up for its next phase of ambitious growth and expansion in this vital sector.