Arsenale Sgr has completed the sale of the first property acquired since
fondo Areus I (Arsenale Real Estate United States I), to a real estate investment company listed on the New York Stock Exchange, for a value of 100 million dollars.
Acquired by Arsenale Sgr in June 2020, this is a mixed specialist property
laboratories / offices dedicated to research and development for the pharmaceutical sector located in the city of
Waltham – in the state of Massachusetts near Boston – one of the areas with the highest concentration of Biotech and Pharmaceutical activities in the world.
Consisting of two buildings with a total area of approximately 13,000 square meters, the property is equipped with all the specialized infrastructures for research activities (chemical and biological). «The Waltham operation can only make us very satisfied and also partly surprised by its speed – comments Massimiliano Rossi, CEO of Arsenale Sgr -. The plan provided for a redevelopment intervention at the end of the contract with the current Tenant next year, but the offer received by the listed fund is already congruous with the initial objectives of the investment despite becoming a quick trading operation. On the other hand, this event confirms the attractiveness of Areus’ investment strategy, in identifying assets that are often specialized and destined for sectors characterized by a high level of innovation such as LifeScience, Tech and Media. Areus has already assembled a portfolio of 4 assets, with significant exposure to the LifeScience sector and together with our local California-based investment team we will continue to scout for opportunities in this niche market which has proven to be particularly growing ».
On May 28, 2021, Arsenale Sgr announced the closure of the Areus I fund raising at 160 million dollars, greatly exceeding the initial target thanks to the subscription of important Italian entrepreneurial families. The fund invests with strategy value add on the redevelopment of Flex and LifeScience office spaces located mainly in the districts of Los Angeles / South California, San Francisco / Silicon Valley and Boston.