Page 35 Bain Capital Helthcare
P. 35
Bain Capital Real Estate has monetized some of the early Genesis real estate investments. Most prominently, in October
2020, it sold Genesis South San Francisco, in the San Francisco Cluster, to Ventas, a public REIT, for $1 billion.
Genesis South San Francisco was a three-building portfolio that included one of the tallest life sciences properties in the
world. The project began with an off-market acquisition of a failed office project consisting of an existing 12-story building
and a 21-story abandoned development site. Upon acquiring a third building, completing the repositioning of the existing
buildings and the construction of the tower, the three-building project encompassed almost 800,000 square feet of Class A,
highly amenitized lab space.
“Strong and growing capital flows into the life sciences sector are accelerating innovation and discovery,” Ventas Chairman
and CEO Debra Cafaro said in a statement. “These flows support the demand for first-class lab space.”
Genesis South San Francisco
Right Assets, REIT Exit
35
Bain Capital
Healthcare
2020, it sold Genesis South San Francisco, in the San Francisco Cluster, to Ventas, a public REIT, for $1 billion.
Genesis South San Francisco was a three-building portfolio that included one of the tallest life sciences properties in the
world. The project began with an off-market acquisition of a failed office project consisting of an existing 12-story building
and a 21-story abandoned development site. Upon acquiring a third building, completing the repositioning of the existing
buildings and the construction of the tower, the three-building project encompassed almost 800,000 square feet of Class A,
highly amenitized lab space.
“Strong and growing capital flows into the life sciences sector are accelerating innovation and discovery,” Ventas Chairman
and CEO Debra Cafaro said in a statement. “These flows support the demand for first-class lab space.”
Genesis South San Francisco
Right Assets, REIT Exit
35
Bain Capital
Healthcare
