Breakthrough Properties
Breakthrough Properties is a Tishman Speyer/Bellco Capital joint venture that develops and operates Class A life science research facilities across the US and Europe for pharma, biotech, and academic tenants.
- Company typePrivate
- Founded2019
- HeadquartersLos Angeles, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Breakthrough Properties does
Breakthrough Properties is a private joint venture between Tishman Speyer (global real estate developer) and Bellco Capital (biotechnology investment firm founded by Arie Belldegrun) that develops, owns, and operates Class A life science research and development facilities for pharmaceutical, biotechnology, and academic research clients across the United States and Europe. Founded in 2019 and headquartered in Los Angeles with regional offices in San Diego, Boston, Philadelphia, New York, and London, the company has built a portfolio spanning more than 6 million square feet of operating and pipeline space across San Diego, Boston, Philadelphia, Boulder, Amsterdam, Oxford, and Cambridge. Its property portfolio includes trophy campuses such as Torrey Heights and Torrey View in San Diego, The 105 in Boston (fully leased to CRISPR Therapeutics), One Helix in Amsterdam (fully leased to AstraZeneca), and One Milestone at Harvard's Enterprise Research Campus, alongside a European pipeline (Trinity in Oxford, Vitrum in Cambridge, One Canal in East Cambridge) and a sub-brand called StudioLabs by Breakthrough that provides turnkey flexible lab and office suites (4,000-15,000 SF) for hyper-growth life science tenants. All European projects target BREEAM Outstanding certification and US projects target LEED Gold, with One Helix having achieved the highest possible sustainability credentials (BREEAM Outstanding and EPC A+++++).
Breakthrough Properties firmographics
Firmographics- Name
- Breakthrough Properties
- Legal name
- Breakthrough Properties
- Website
- https://btprop.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Breakthrough Properties is a Tishman Speyer/Bellco Capital joint venture that develops and operates Class A life science research facilities across the US and Europe for pharma, biotech, and academic tenants.
- Ownership category
- akta.pro rank
Breakthrough Properties industry classification
Industry- Product category
- Life Science Real Estate Development
- NAICS
- Commercial and Institutional Building Construction (23622), Industrial Building Construction (23621)
- akta.pro primary industry
- Life Sciences/Laboratory Property Management (BPAJAGAL)
- akta.pro secondary industry
- Life Sciences/Lab Tenant Representation (BPAJALAG)
Keywords
Where Breakthrough Properties is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Breakthrough Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales
Revenue model
- Commercial Real Estate Leasing: Breakthrough Properties generates revenue through long-term commercial leases of purpose-built life science facilities to pharmaceutical, biotechnology, and research organizations. Revenue is primarily rental income from Class A laboratory and office spaces across development projects in prime life science clusters. Lease terms typically range from 10-15 years with investment-grade tenant credit profiles.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom lease negotiations based on project-specific factors |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Breakthrough Properties product offering
Product offeringCore offering
Breakthrough Properties develops, owns, and operates Class A laboratory and life science research facilities in major U.S. and European innovation clusters. The company leases these purpose-built facilities to biotechnology, pharmaceutical, and life science tenants, including a specialized StudioLabs offering targeted at early-stage and hyper-growth life science companies.
Product overview
Breakthrough Properties is a global life science real estate development company offering a portfolio of research and development facilities across the United States and Europe. The company's core offerings include the StudioLabs sub-brand, which provides turnkey flexible lab and office suites for hyper-growth life science companies, alongside a portfolio of named properties including The 105, Torrey View, One Helix, Trinity, Vitrum, One Milestone, Boulder 38, One Canal, 2300 Market, MUSE, Callan Ridge, and Torrey Heights. These properties range from trophy Class A life science campuses to purpose-built laboratory environments targeting LEED Gold (US) and BREEAM Outstanding (Europe) certifications, serving tenants from early-stage biotechs to established pharmaceutical companies like Pfizer, AstraZeneca, CRISPR Therapeutics, and Genentech.
Differentiator
Problem solved
Functional benefit
Brands
- StudioLabs: A turnkey, flexible lab and office solution designed exclusively for hyper-growth life sciences companies offering fully-furnished private lab and office suites ranging from 4,000 to 15,000 sq ft with flexible short-term leases and on-site concierge service.
Products and services
- Class A Life Science Laboratory and Research Facilities Long-term leased Class A laboratory, research, and development facilities purpose-built for biotechnology, pharmaceutical, and life science tenants in major U.S. and European innovation clusters.
- StudioLabs (Hyper-Growth Life Science Workspace) Specialized offering providing flexible, growth-oriented laboratory and office space tailored to early-stage and hyper-growth life science companies, typically located within or alongside the company's Class A life science portfolio.
Quantifiable outcome
- Largest dedicated life science real estate fund ever raised (excluding recapitalizations) at $3 billion
- +2 more outcomes
Companies that use Breakthrough Properties
Customer profileNamed customers12 records
Segments3 records
Ideal customer profiles1 record
Breakthrough Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Breakthrough Properties partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship, core and strategic.
- Roche (Genentech)flagshipExpanded Innovation Center commitment at One Milestone, Harvard ERC from 30,000 to 100,000 SF. Roche/Genentech serves as anchor tenant for the life science complex.
- Eli Lilly and CompanycorePartnership to bring Lilly Gateway Labs to 2300 Market Street, Philadelphia, providing biotech startups with fully-equipped labs, advanced equipment, and support services.
- Pfizer IgnitestrategicGlobal strategic collaboration between Breakthrough's StudioLabs platform and Pfizer Ignite, providing clients with access to Pfizer's R&D services, scientific expertise, and advisory network.
- Healthpeak PropertiesstrategicJoint venture partner for Callan Ridge acquisition. Breakthrough holds 65% interest; Healthpeak retains 35%. Joint venture enables access to trophy quality research campus in Torrey Pines.
- Harvard Allston Land CompanyflagshipDevelopment partner for Harvard Enterprise Research Campus in Allston, Boston. Tishman Speyer selected as preferred developer with Breakthrough Properties providing life science expertise.
- Tishman SpeyercoreJoint venture partner providing global real estate development, investment, and operational expertise. Breakthrough Properties is 50/50 JV between Tishman Speyer and Bellco Capital, combining real estate platform with biotech expertise.
- Bellco CapitalcoreJoint venture partner providing biotechnology investment expertise, industry relationships, and access to Scientific Advisory Board. Bellco Capital was founded by Arie Belldegrun, founder of Kite Pharma (acquired for $12B by Gilead).
Scale indicators6 records
Recent moves8 records
Expansion highlights6 records
Breakthrough Properties competitors and assessment
Company assessmentEmerging players
- King Street Properties: Private life science and innovation district developer with a strong concentration in Greater Boston/Cambridge. Comparable product type (purpose-built Class A lab space) and tenant base, though materially smaller scale than Breakthrough's platform.
- Longfellow Real Estate Partners: Private life science real estate investment manager with a growing footprint across Boston, San Diego, RTP, and emerging clusters. Comparable focus on Class A lab development with a venture-style operator approach; smaller AUM than Breakthrough but increasingly competitive in the same clusters.
Direct peers
- IQHQ: Pure-play life science REIT focused on trophy lab and biomanufacturing campuses in San Diego, Boston, San Francisco, and Raleigh-Durham. Directly comparable product positioning and tenant quality to Breakthrough's trophy campus strategy (Torrey View, Torrey Heights, MUSE).
- Wexford Science & Technology: Developer and operator of purpose-built life science and innovation districts, often affiliated with universities and academic medical centers. Comparable in delivering pre-leased Class A lab space tied to research institutions; particularly relevant given Breakthrough's Harvard ERC anchor.
- Alexandria Real Estate Equities: The largest publicly traded life science REIT, owning and operating ~40M SF of Class A lab facilities in Boston/Cambridge, San Diego, San Francisco, NYC, and RTP. Most directly comparable to Breakthrough by tenant profile (Pfizer, Roche, Lilly), cluster focus, and pre-leased development model; sets the benchmark for the asset class.
- BioMed Realty: Private (Blackstone-owned) life science REIT operating ~17M SF of lab space across Boston/Cambridge, San Diego, San Francisco, Seattle, and Cambridge UK. Directly comparable product offering, tenant segments, and cluster strategy to Breakthrough.
- Healthpeak Properties: Major publicly traded REIT with a large life science lab portfolio concentrated in San Diego, Boston, and San Francisco. Already a JV partner with Breakthrough on the Callan Ridge acquisition (65/35), making it both a direct peer and a strategic collaborator. Highly comparable tenant roster and cluster strategy.
Broad incumbents
- Tishman Speyer: Global real estate developer and 50/50 JV parent of Breakthrough. While a broad incumbent across office, life science, and mixed-use, its life science strategy is largely channeled through Breakthrough, making it the closest parent-level comparable and benchmark for sponsor capability.
- Beacon Capital Partners: Large private real estate investment manager with a growing life science portfolio concentrated in Boston, San Diego, and San Francisco. Comparable in deploying institutional capital into trophy life science campuses but operates as a broader diversified platform.
Others
- CBRE Group: Global commercial real estate services and investment firm with a dedicated life science capital markets and advisory practice. Functions as an ecosystem enabler (brokerage, valuation, capital markets) rather than a direct owner-competitor, but is relevant for benchmarking transaction multiples and tenant representation comparable to JLL/Cushman & Wakefield relationships used by Breakthrough.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks2 records
Key highlights7 records
Customer concentration
Breakthrough Properties social profiles
Digital presenceBreakthrough Properties compliance and trust
Trust signalCompliance8 records
Breakthrough Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Breakthrough Properties leadership team
Management profileNumber of profiles
Breakthrough Properties subsidiaries and ownership
Company hierarchySubsidiaries1 record
Breakthrough Properties funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Breakthrough Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Breakthrough Properties
What does Breakthrough Properties do?
Breakthrough Properties develops, owns, and operates Class A laboratory and life science research facilities in major U.S. and European innovation clusters. The company leases these purpose-built facilities to biotechnology, pharmaceutical, and life science tenants, including a specialized StudioLabs offering targeted at early-stage and hyper-growth life science companies.
Is Breakthrough Properties a public or private company?
Breakthrough Properties is a private company. It is classified as corporate owned and is currently operating.
When was Breakthrough Properties founded?
Breakthrough Properties was founded in 2019. It employs 51 to 100 people.
Where is Breakthrough Properties based?
Breakthrough Properties is headquartered in Los Angeles, United States, in the North America region.
How does Breakthrough Properties make money?
One revenue line is on record: commercial Real Estate Leasing.
Who are Breakthrough Properties's main competitors?
Emerging players on record are King Street Properties and Longfellow Real Estate Partners. Direct peers are IQHQ, Wexford Science & Technology, Alexandria Real Estate Equities, BioMed Realty and Healthpeak Properties. Broad incumbents are Tishman Speyer and Beacon Capital Partners. CBRE Group is listed as an others.
Does Breakthrough Properties have an API?
No public API is recorded for Breakthrough Properties.
What industry is Breakthrough Properties in?
Breakthrough Properties's product category is Life Science Real Estate Development. Its primary akta.pro industry code is BPAJAGAL, Life Sciences/Laboratory Property Management, with a secondary code of BPAJALAG, Life Sciences/Lab Tenant Representation. Its NAICS code is 23622.