SCHEER PARTNERS FORMS $100 MILLION EQUITY FUND WITH THE JBG COMPANIES TO DEVELOP AND ACQUIRE LIFE SCIENCES COMMERCIAL REAL ESTATE
Greater Washington Life Sciences Fund Formed in Partnership with The JBG Companies To Pursue $300 Million in Life Sciences Real Estate Investments
Rockville, MD. — Scheer Partners, a leading provider of health science commercial real estate services, announced today that it has formed an equity fund with The JBG Companies for acquiring and developing life sciences commercial real estate. Greater Washington Life Sciences Fund is a $100 million private equity fund created to pursue $300 million in life sciences real estate investments over the next three years.
Robert Scheer, president and founder of Scheer Partners, will serve as the fund’s managing member.
“The creation of Greater Washington Life Sciences Fund is a natural platform for us to utilize our vast knowledge of life sciences facilities to capitalize on key investment and development opportunities,” said Scheer. “We are thrilled to have a firm like The JBG Companies join us in this endeavor. JBG’s track record in securing superior commercial real estate investment returns is widely recognized.”
The life sciences industry is rapidly evolving and the Fund between The JBG Companies and Scheer Partners will strategically leverage financial resources, market knowledge and relationships between the two firms to focus on developing and acquiring life sciences commercial real estate.
Founded in 1991, Scheer Partners has specialized in serving the facilities needs of the area’s life sciences industry. Since then, the company has completed more than 500 projects with life sciences companies, totaling over 6.2 million square feet of leasing, acquisition, design, and construction projects, as well as operating incubator and laboratory facilities.
Founded in 1960, The JBG Companies is a fully integrated investment, management and development company located in Chevy Chase, Maryland. By combining its broad transactional skill sets, organizational and financial capacity, a long and successful track record and strong reputation, JBG is able to take advantage of complex opportunities.