NexPoint announced that it acquired two life science properties in Philadelphia from Frontida BioPharm, LLC for an undisclosed price.
The properties were indirectly acquired by NexPoint Life Sciences II DST, a Delaware statutory trust seeking to raise $42 million in equity from accredited investors via a private placement offering.
The two properties include nearly 18 acres of land and more than 250,000 square feet of interior space. The first property comprises 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.
NexPoint is a multibillion-dollar alternative investment firm comprising a group of investment advisers and sponsors, a broker-dealer and a suite of related investment vehicles. It is based in Dallas, Texas.
According to data captured in the LevinPro HC database, this acquisition represents the fifth life sciences building transaction of the year.
