Dallas-based alternative investment titan NexPoint is making strategic moves in the life sciences realm with the recent acquisition of two industrial properties in Philadelphia. The deal expands the firm’s real estate footprint in the industry.
In February, the multi-billion-dollar investment firm announced plans for a massive life sciences district in Plano.
The latest real estate transaction builds on NexPoint’s commitment to grow its presence within the life sciences industry,” the firm said in a news release.
‘Expanding our footprint in this critical sector’
NexPoint, known for its diversified portfolio, purchased nearly 18 acres of land encompassing two properties from Frontida Biopharma LLC. Frontida is part of the Adare Pharma Solutions group, a company specializing in oral dosage forms for the pharmaceutical industry. The deal was orchestrated by NexPoint Life Sciences II DST, a Delaware statutory trust that aims to raise $42 million from accredited investors in a private-placement offering.
The new facilities provide over 250,000 square feet of interior space, with Frontida remaining the tenant. The first property houses R&D, production, and warehouse facilities, capable of producing three billion tablets and capsules annually. The second property, a 12-acre site, includes distribution facilities and packaging capacity for four billion tablets and capsules annually.
“As the life sciences industry continues to evolve, we see increasing demand for quality properties to support companies across all stages of innovation,” Matt McGraner, NexPoint Real Estate Advisors’ Chief Investment Officer, said. “We’re committed to expanding our footprint in this critical sector with modern facilities that help life sciences companies do their best work.”
Proposed TxS District in Plano
Closer to home, NexPoint recently unveiled plans for the TxS District, a proposed 200-acre life sciences development in Plano. The project would transform the former headquarters of Electronic Data Systems into a hub offering over 4 million square feet of lab, office, and therapeutic production space.
The endeavor is NexPoint’s bold move to establish North Texas as a leader in life sciences. “Not only would this project be a major economic catalyst for the region, but it would also establish North Texas as a leader in life sciences,” James Dondero, NexPoint founder and principal said at the time.
Phases one and two of the project will renovate existing buildings, creating close to 1.1 million square feet of premium lab, office, and amenity space. The plan also includes community-friendly elements such as a public park, an amphitheater, and a connection to the nearby Legacy retail development.
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