Property private equity firm Madison International Realty has bought a minority stake in AXA IM Alts’ European Life Sciences platform Kadans Science Partner.
AXA IM Alts acquired Kadans in December 2020.
Kadans is a fully integrated developer, owner and operator of European science parks and lab offices. Its portfolio currently comprises 22 assets with a total of 167,000 sq m of space in the Netherlands, UK and Germany. A further eight developments are underway which will provide 120,000 sq m of space by 2024.
The deal is Madison’s first investment in the European life sciences sector and follows a $200m commitment made to IQHQ, a US life sciences real estate owner, operator and developer, during 2020.
“Life sciences is a sector which we are already active in the US but is still relatively new in Europe, and could be poised for further growth,” said Madison managing director Alex Lukesch. “The transaction is in line with our broader strategy of both investing where we have strong conviction and of taking stakes with what we believe are best-in-class operators, properties and businesses.”