Press Release September 16, 2021

King Street and Brookfield Partner to Invest $1.5 Billion in Life Sciences Real Estate Across the U.S.

The Real Estate Industry and PropSci teams advised King Street Properties in its partnership to pursue investment in life science real estate across the US with a Brookfield Asset Management private real estate fund. The partnership intends to invest approximately $1.5 billion in equity capital towards King Street's life science real estate pipeline. In addition, Brookfield entered into an agreement to purchase an interest in King Street's operating platform. King Street continues to own and operate its existing portfolio of 2.5 million square feet of stabilized assets and 2.3 million square feet of assets under development.

Established in 2002, King Street offers a unique combination of hands-on operating capabilities and development and acquisition expertise, including new construction, adaptive reuse, and repositioning of research and development buildings. King Street holds a leading market position in Boston/Cambridge and NYC and an established presence in other core US lab markets. Having developed and operated approximately 4 million square feet of life science real estate, King Street serves as a trusted landlord for companies that develop lifesaving drugs and therapies, medical devices, and companies harnessing renewable materials.

The Goodwin team was led by Mark Opper and Kerri Garipoli and included Stuart Cable, Robert Kester, Ross Gillman, Anna Dodson, Tim Holahan, Evyn Rabinowitz, Jordan Baker and Patrick Maher.

For additional details on the partnership, please read the press release.