Brookfield Forms Strategic Partnership with King Street Properties

September 22, 2021

Willkie represented Brookfield Asset Management in its strategic partnership with King Street Properties, including an investment of approximately $1.5 billion in equity capital towards King Street's life science real estate pipeline.

On September 15, King Street Properties, a leading private developer, owner and operator specializing in life science real estate, announced that it has formed a partnership to pursue investment in life science real estate across the US with a Brookfield Asset Management private real estate fund. Willkie represented Brookfield in the transaction.

The partnership intends to invest approximately $1.5 billion in equity capital towards King Street's life science real estate pipeline. In addition, Brookfield entered into an agreement to purchase an interest in King Street's operating platform. King Street continues to own and operate its existing portfolio of 2.5 million square feet of stabilized assets and 2.3 million square feet of assets under development.

Brookfield Asset Management is a leading global alternative asset manager with over $625 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Boston-based King Street offers a unique combination of hands-on operating capabilities and development and acquisition expertise, including new construction, adaptive reuse, and repositioning of research and development buildings.

The Willkie deal team was led by partners Thomas Henry and Gregory Astrachan and included associates Melissa Fischetti and Amanda Searles.