Life science real estate development company IQHQ, Inc. announced that it has completed a second $1.7 billion equity raise from new and existing strategic partners.
The compnay aims to use the financing to pursue its development pipeline that includes an anticipated 4.4 million square feet of cutting-edge life science projects in Boston, San Francisco and San Diego.
“We are honored by the trust placed in us by our shareholders for the completion of this significant capital raise, which validates IQHQ’s solid strategy, our exceptional team, and our success in identifying and securing premier life science projects and developments in top markets,” said Steve Rosetta, CEO of IQHQ. “It is important to take this opportunity to reflect on all that we have accomplished since our initial raise, and the most exciting part is that we are just getting started.”
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“During a turbulent year, IQHQ’s focus on the commercial life science sector has been a winning strategy as the market shows no signs of slowing down – quite the opposite, despite the economic headwinds associated with the pandemic, life science real estate has remained steady and all indications point to continued growth,” said Jamie Graff, Managing Director, Co-Head of Real Estate of Raymond James.
