Real estate private equity firm Madison International Realty has invested in AXA IM Alts European Life Sciences platform to acquire a minority stake in Kadans Science Partner.
The investment is Madison’s first in the European life sciences sector and follows a $200 mln commitment made to IQHQ, a US life sciences real estate owner, operator and developer, during 2020.
Kadans is a fully integrated developer, owner and operator of European science parks and lab offices with around 167,000 m2 of operating space across 22 assets in key research locations in the Netherlands, UK and Germany. It also has eight developments which are estimated to deliver 120,000 m2 of new space by 2024.
AXA IM Alts acquired the firm in December 2020. According to AXA, a key element of Kadans’ success has been the creation of innovation ecosystems not just within the individual building and campuses it operates in, but across its whole network of tenants and relationships across Europe.
Alex Lukesch, managing director at Madison International Realty, said: 'Through this investment we have secured a stake in a developer and operator of life sciences real estate in Europe. Life sciences is a sector which we are already active in in the US but is still relatively new in Europe, and could be poised for further growth.
'The transaction is in line with our broader strategy of both investing where we have strong conviction and of taking stakes with what we believe are best in class operators, properties and businesses and working alongside highly regarded managers in sectors that we believe have the potential to grow significantly.'