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Ensemble Real Estate Investments Acquires WuXi 366,803 SF Property Portfolio in Philadelphia´s Navy Yard
Thursday 17 September 2020

California-based real estate investment company Ensemble Real Estate Investments has closed on the purchase of three large Life Sciences facilities in Philadelphia's Navy Yard that are occupied by WuXi Advanced Therapies, Inc, the company said.

Terms of the transaction were not disclosed.

The properties comprise a collective 366,803 square feet.

The closing on the WuXi facilities expands Ensemble's Navy Yard Life Sciences footprint to a total of five properties that represent approximately 550,000 square feet and USD 155m invested.

Its other two Life Sciences properties are Adaptimmune Therapeutics' United States headquarters and the currently under-construction Iovance Biotherapeutics facility, where they are the co-developer.

These five buildings, coupled with Ensemble's previous investments in office and hotel properties, bring the company's Navy Yard portfolio to include over 1.1 m square feet and four pad-ready development sites representing USD 360m of investment.

Ensemble Real Estate Investments offers property solutions in the healthcare, hospitality, commercial, and urban multi-family and mixed-use sectors.

WuXi Advanced Therapies, Inc. is a Contract Development and Manufacturing Organisation that is reducing the complexities of manufacturing by providing integrated platforms that enable cell and gene therapies to be developed, manufactured, and released faster and with greater predictability.

Philadelphia's Navy Yard is a redevelopment of a former military facility that features more than 7.5m square feet of buildings housing more than 15,000 employees working at over 170 companies.
Date Published: 17/09/2020