NexPoint Acquires Life Science Properties in Philadelphia
The purchase includes nearly 18 acres of land and more than 250,000 square feet of interior space.
NexPoint has acquired two life sciences industrial properties located in Philadelphia, PA, from Frontida Biopharm, a company in the Adare Pharma Solutions group. The properties were indirectly acquired by NexPoint Life Sciences II DST.
The real estate acquisition includes nearly 18 acres of land across the two separate properties and more than 250,000 square feet of interior space where Frontida Biopharm will remain the tenant. The first property consists of R&D, production, and warehouse facilities capable of producing three billion tablets and capsules annually. The second property features distribution facilities and packaging capacity for four billion tablets and capsules annually and allows for potential expansion on its 12-acre campus.