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Announced

Completed

Breakthrough Properties completed the acquisition of the office park at 6200 and 6220 Greenwich Drive from Manulife and the Regents of the University of California for $145m.

Financials

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Transaction Value£110m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Single Bidder

Domestic

Acquisition

Friendly

Private

Completed

Real Estate

United States

real estate

Real Estate Holding and Development

Majority

Synopsis

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Breakthrough Properties, a life science real estate development company, completed the acquisition of the office park at 6200 and 6220 Greenwich Drive, totaling more than 200k square feet, from Manulife, an asset management company, and the Regents of the University of California, for $145m. "San Diego continues to emerge as one of the most sought-after innovation markets on the West Coast. The tech and life science sectors are both high growth and exceeding resilient, which is attracting the highest quality capital in the region," Kevin Shannon, Newmark co-head of US capital markets.

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