HATCHspaces® and NexCore JV’s most recent acquisition is a biomanufacturing facility in West Los Angeles, acquired with Nuveen (Photo: Jonathan Ramirez – Archlenz Photography)
March 30, 2022 01:01 PM Eastern Daylight Time
HATCHspaces® and NexCore JV’s most recent acquisition is a biomanufacturing facility in West Los Angeles, acquired with Nuveen (Photo: Jonathan Ramirez – Archlenz Photography)
DENVER & LOS ANGELES–(BUSINESS WIRE)–NexCore Group, a national healthcare real estate developer and investor, and HATCHspaces, LLC, a developer and operator of purpose-built life science real estate, announced a strategic platform to expand their portfolio of life sciences assets nationwide. The platform expansion will provide state-of-the-art labs, offices, manufacturing facilities, and other supporting facilities and infrastructure to the life science industry. With a focus on retaining key intellectual property and emerging technology in specified regions, the platform will focus on companies emerging from academic and incubator environments in support of early-stage life science clusters.
The partnership’s portfolio already includes over $100 million of life science properties in West Los Angeles, Irvine, and Boulder, with several other properties in the pipeline in various bioscience clusters across the nation. NexCore Group and HATCHspaces expects to grow the platform exponentially over the next few years.
NexCore Group’s portfolio depth and experience span the country, with a long track record of delivering high-quality technical expertise to hospital systems, private operators, and other healthcare entities, establishing ongoing partnerships and relationships to improve the delivery of healthcare.
Similarly, HATCHspaces’ economic development and science-centric approach has focused on delivering communities and scientists the key infrastructure to grow and support an industry that provides robust job growth across the full career arc from technicians to Ph.Ds.
Todd Varney, NexCore Group Managing Partner and Chief Development Officer, says, “The HATCHspaces team has done a tremendous job building a brand around missing needs for early-stage companies and growing science clusters. Their focus on relationships is aligned with NexCore Group’s philosophy of building partnerships throughout the healthcare industry. We plan to build on that momentum by continuing to expand the brand into new markets.”
Continued growth and maturation of the life science industry in multiple markets across the country reflects both the resiliency and market acceptance of the sector. Various trends in venture capital, manufacturing onshoring, and government-funded research are bolstering advances in life science discovery, a trend that HATCHspaces recognized six years ago with their innovative approach to the provision of lab facilities through their HATCHlabs, HATCHx, HATCHmfg, and HATCHcampus platforms. NexCore Group similarly takes a cross-collaborative approach to the provision of specialized facilities.
“The life science industry has been exceptionally receptive to our platform approach of providing purpose-built lab space,” says Howard Kozloff, Co-Founder and Partner at HATCHspaces. “Formalizing our relationship with NexCore,” Kozloff continues, “allows us to expand our reach both in Southern California and beyond to the other top 20 life science clusters in the country.”
HATCHspaces Co-Founder and Partner Allan Glass adds, “Our goal is to develop long term relationships with our tenant-partners and grow with them to meet their needs.” Glass further states, “NexCore is a nationally recognized leader in healthcare real estate. Their success fostering relationships with some of the most impactful healthcare systems in America is aligned with HATCHspaces’ approach to life science. We are excited to be a part of their team and to bring that expertise and experience to the life science industry.”
About NexCore Group LLC
NexCore Group is a national healthcare real estate investment and development company that focuses on acquiring, developing, owning, and managing healthcare facilities including medical office buildings, wellness facilities, ambulatory surgery centers, single and multi-specialty physician buildings, life sciences facilities, seniors housing communities and transitional rehabilitation centers. NexCore partners with top healthcare systems, hospitals, physician groups, and assisted living, memory care and post-acute care operators, and reputable institutional and high net worth investors to develop, acquire and own high quality assets that serve their communities through significant job creation and the provision of quality healthcare services. Since 2004, the NexCore team has completed $4.7 billion in healthcare real estate transactions throughout 29 states, developed and acquired over 14.3 million square feet of healthcare properties across the country and currently manages over $2.9 billion of healthcare facilities spanning 7.3 million square feet. The company has been recognized repeatedly as one of the Top Healthcare Real Estate Developers in the U.S. by Modern Healthcare and HREI. NexCore is headquartered in Denver, with regional offices in Chicago; Bethesda, Md.; Portland, Ore.; Dallas; Orlando, Fla.; Laguna Niguel, Calif.; and Indianapolis. For more information, please visit NexCoreGroup.com.
About HATCHspaces®, LLC
HATCHspaces, LLC is a Los Angeles-based real estate development platform focused on simplifying the process of scientific innovation by creating purpose-built life sciences facilities for companies emerging from academic and incubator networks. With properties in various regional submarkets, HATCHspaces’® mission is to deliver the life science community state-of-the-art lab facilities at varying scales, allowing regions to retain early-stage bioscience and biotechnology start-ups emerging from research environments.
Contacts
HATCHspaces, LLC
Allan S. Glass / Managing Partner – 213.952.9052 / allan@hatchspaces.com
Howard Kozloff / Managing Partner – 310.663.3534 / howard@hatchspaces.com
NexCore Group LLC
Kirstin Barbour, Marketing Director, 303-293-0693
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