DURHAM – Longfellow Real Estate Partners, an active developer in the Bull City with two new buildings nearing completion, has closed on $500 million in new capital and as a result plans to acquire, develop and operate life science and technology properties across the country.
Longfellow Real Estate Partners
“We are pleased to establish this fund, which will allow us to continue to solidify our position as a market leader in the life sciences and real estate segment,” said Adam Sichol, managing partner of Longfellow, in a statement.
Added Jamie Peschel, also a managing partner, added: “Our confidence in life sciences real estate continues, given its compelling fundamentals and demonstrated growth. This fund will allow us to take advantage of opportunities in markets across the U.S. that are supporting innovation.”
Longfellow said it will “seek to identify investments in growth markets that support innovation and clustering of knowledge industries.” Its focus will be to “create a diversified portfolio of assets by employing several strategies, including the purchase of stabilized assets, the conversion of properties for use by life science and technology tenants, as well as ground up development of new properties.”
In Durham, Longfellow is developing the Durham Innovation District.
The firm is based in Boston and has offices in Durham as well as Morrisville. It already manages more than 2 million square feet of space.
