The last 15 months acted as a catalyst for a boom of investor interest in the life sciences real estate sector. To keep up with the spike in market activity, lenders have been forced to educate themselves in a hurry about the significant complexities that accompany these unique properties.
The COVID-19 pandemic drove growth in public and private funding for research and development, from biomedical research and manufacturing to drug discovery. As such, there’s subsequent increasing demand for physical space, with limited supply, and a host of new developers eager to throw their hat into the ring.
But, the life sciences sector isn’t a walk in the park. It takes time to establish a track record as an owner and operator, and to get up to speed with the intricate nuances that are part and parcel with life sciences buildings and tenants.
As such, lenders in the space are leaning heavily on seasoned life sciences real estate…