Breakthrough Properties

About Breakthrough Properties

Breakthrough Properties is a real estate operator headquartered in Los Angeles, CA. Breakthrough Properties operates in Boston, Massachusetts, Boulder, Colorado and Philadelphia-Camden-Wilmington, Pennsylvania-Delaware. Its investment focus is on Life Science.

Breakthrough Properties is a global life science real estate developer, owner, and operator formed in 2019 as a joint venture between Tishman Speyer and Bellco Capital. The firm focuses on research and development facilities for biotechnology and other science-driven companies, with activity across the U.S., U.K., and continental Europe. Its first fund closed at $3 billion in 2022, and by late 2025 the company reported a portfolio of projects spanning nearly 6 million square feet across 8 major biopharma markets. Breakthrough’s real estate strategy includes purpose-built life science developments, value-add conversions, and core/core+ properties. More than 60% of its global portfolio was reported as leased to investment-grade life science tenants, including major pharmaceutical and biotech occupiers. The company’s specialization is life science real estate, including lab, office, and R&D environments. It also operates StudioLabs, offering private lab and office suites ranging from 4,000 to 15,000 rentable square feet.

Principals at Breakthrough Properties