Industrial & Infrastructure Fund Investment To Buy 3% Co-ownership Interest In IIF Shonan Health Innovation Park
June 15, 2020 — Japan’s Industrial & Infrastructure Fund (IIF) Investment and Mitsubishi – UBS Realty Inc. have agreed to acquire a 3% co-ownership stake in IIF Shonan Health Innovation Park. Mitsubishi – UBS Realty is also IIF’s manager.
The parties will be acquiring a real estate trust beneficiary right relating to one of Takeda Pharmaceutical’s largest research and developments through a commercial real estate sales and leaseback proposal. The buyers expect the stake to contribute to higher cash distributions per unit, in part, because it is located in a prime area.
Takeda opened the development in 2011 with the aim of “realising a domestic top-level drug discovery research centre.” It is also a major tenant at the facility, which was previously known as the Shonan Research Center
In April 2018, Takeda renamed it Shonan Health Innovation Park, and opened it to the public as a facility for promoting open innovation.
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