Belldegrun-backed biotech real estate group nabs $130M to construct eight-story hub in Philly
From Boston to San Diego, biotech builder, landlord and Kite founder Arie Belldegrun and his son, Dan, have built or remade spaces for the industry over the past few years — and now Breakthrough Properties is moving into Philadelphia.
On Wednesday, the company, backed by Tishman Speyer and Bellco Capital, announced it had closed financing and started construction on a life science building “in the heart” of Philadelphia’s Center City District thanks to a $130 million construction loan from Corebridge Financial.
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