Blackstone company BioMed Realty was formed to target life science investments, and for years the firm has built a premier portfolio in the sector, valued at more than $22 billion. But, the last two years have provided even more opportunity in the asset class.

"At BioMed, we've long known the importance of the life science sector, even before the pandemic, but the past two years certainly increased public awareness of the essential work these companies do—I mean the entire world witnessed firsthand the potential of the industry! We see life science as a key driver of local, national, and global economies, and remain bullish on the industry," Bill Kane, president of East Coast and UK markets at BioMed Realty, tells GlobeSt.com.

The data supports the firm's fervor. According to Kane, the fundamentals are strong in the major life science hubs where BioMed has a presence. "We have strong data that backs up this sentiment — in the Boston market, for example, where over half of BioMed's platform is concentrated, we're seeing market rents up 15% with a less than 1% year over year vacancy average and tenants pre-leasing 76% of the pipeline of active life science developments in competitive locations," he says.