Trinity Capital Advisors — based in Charlotte and Raleigh, N.C. — and Foundation Capital Ventures, based in Encinitas, Calif., have joined forces to launch “Foundation,” a new platform focused on real estate solutions for the life sciences, technology and innovation sectors across the U.S.
Foundation will be led by an experienced team from Trinity, including Denis Sullivan, Scott Altick, Walker Collier and Jeff Sheehan. Sullivan and Altick previously worked together at BioMed Realty for more than 15 years, bringing significant experience in life sciences real estate investment and development.
The partnership builds on a successful collaboration between the two firms on Spark LS — a $1 billion, 109-acre life sciences campus under development in Morrisville, N.C. The first R&D building on the site is nearing completion with leasing being handled by Cushman & Wakefield.
Beyond Spark LS, Trinity already boasts a life sciences portfolio exceeding 3 million square feet in the Research Triangle region. This includes Southport Innovation Center — a 911,700-square-foot life sciences and technology campus — and Venable Center, a 290,665-square-foot, re-use development.
Foundation will leverage Trinity’s expertise in recapitalizing distressed assets and its existing relationships with capital partners. This, combined with Foundation Capital Ventures’ development experience, aims to establish Foundation as a major player in the national life sciences real estate market.
Research Triangle Biomanufacturing Powerhouse
Leveraging its combination of large-scale biomanufacturing facilities, an experienced workforce and cutting-edge research conducted by top-tier academic institutions, the Research Triangle positions itself as a leader in tackling the ever-pressing demand for faster drug development.
Moreover, Raleigh-Durham is nurturing its future workforce through initiatives like the bioprocessing training program at North Carolina Central and UNC Pembroke. Funded by the Build Back Better Regional Challenge, the course will equip students with the in-demand skills needed to hit the ground running in entry-level biopharmaceutical manufacturing roles.
Looking to rent research-ready office space in the Triangle or other fast-growing clusters? Select any of the markets linked below or visit the CommercialCafe homepage to start your search.
