GI Partners, a leading private investment firm, acquired 230,000 square feet of property leased by the National Institutes of Health at 5625 Fishers Lane and 12735 Twinbrook Parkway in Rockville, Maryland.
The properties, life science lab and research facilities. were developed in 2004 for the National Institutes of Health. NIH leases both properties, which serve as important research facilities for NIH Institutes and Centers, such as the National Institute of Allergy and Infectious Diseases, National Institute of Neurological Disorders and Stroke, and the National Eye Institute, among others. The properties feature state of the art lab facilities and robust infrastructure capable of supporting NIH's vast research initiatives.
"We are pleased to form a relationship with NIH and expand our life science footprint in Rockville," commented Mike Armstrong, Director of GI Partners and head of acquisitions for GI's technology real estate investment programs. "The DC Metro area continues to be an attractive market for life science investment opportunities."
According to company officials, these properties add to the technology real estate portfolio owned and managed by GI Partners, which now totals 31 properties comprising 7.4 million square feet across 13 different leading markets.
GI Partners is based in San Francisco, California. The firm has raised over $17 billion in capital through private equity and real estate strategies from recognized institutional investors across the world, company officials said. GI Partners' real estate team invests across a number of property types and investment strategies, including platforms focused on logistics-based warehouse and distribution facilities, transit-oriented multifamily development, student housing, and technology-advantaged properties.