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IRVINE, Calif.–(Newsfile Corp. – April 11, 2024) – IRA Capital (“IRA”), a Southern California-based real estate private equity firm, announced the acquisition of a 237,000 square foot life sciences campus. announced. Located within the highly popular Easton submarket of Columbus, Ohio, he is comprised of four his three-story interconnected buildings. The property is located near Interstate 270 and John Glenn Columbus International Airport, and across from Easton Town Center, a 1.7 million square foot mixed-use development recognized as one of the nation’s premier urban retail centers.
Sarepta Therapeutics’ Gene Therapies Center of Excellence is located at 3435 Stelzer Road in Columbus’ Easton submarket.
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The majority of the building is leased to biopharmaceutical company Sarepta Therapeutics (“Sarepta” or the “Company”) and houses the Company’s Gene Therapies Center of Excellence. Sarepta specializes in genetic medicines for rare diseases and has four of his drugs approved by the FDA for the treatment of Duchenne muscular dystrophy, including its lead drug Erevidis. The facility will expand Sarepta’s research and development capabilities for the company’s genetic medicine pipeline and support process development to enable the transition from clinical to commercial scale manufacturing.
As an active player in the healthcare real estate space, IRA was drawn to acquire the assets after conducting a thorough due diligence process regarding Sarepta and its life-changing treatment, in addition to the company’s commitment to the Columbus market. “We were intrigued by Columbus’ growing biotech presence, especially as it relates to the cell and gene therapy industry,” said Amer Kasm, partner at IRA Capital. We have a gene therapy drug manufacturing facility in .
While most healthcare real estate investors focus on core life science markets such as Cambridge, San Francisco, and San Diego, IRA bucked that trend and acquired life science assets in other non-core markets. . For example, the IRA previously acquired his GMP facility, the largest in drug development, in Madison, Wisconsin. “Life sciences companies with a presence in markets like Madison and Columbus can benefit from lower operating costs and leverage fundamental local drivers of efficiency,” Kasm said. “PPD has the ability to attract strong talent from the University of Wisconsin.” “This is a huge benefit. Similarly, Sarepta and other gene therapy companies in Columbus will be able to collaborate with Nationwide Children’s Hospital and The Ohio State University, which will provide a pipeline of talent to more than 30 life sciences facilities in the Columbus market. IRA completed the acquisition on an all-cash basis and is actively pursuing additional life sciences opportunities.
About IRA Capital
IRA Capital “IRA” is a Southern California-based private equity firm founded in 2010 by partners Amer Kasm, Samir Patel, Jay Gangwal, Amer Malas, and Mohannad Malas. Since its inception, the IRA has invested more than $3.2 billion in capital for its own accounts and co-investment partners, including pension funds, institutions and family offices. Having acquired more than 8 million square feet of real estate across 30 states, IRA’s portfolio is heavily concentrated in the healthcare real estate sector with an emphasis on medical facilities, senior housing, and life science assets.
For more information, please contact us below.
Danielle de Souza, IRA Capital Corporate Communications
ddesouza@iracapital.com / 949.612.2742
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205127.
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