Scheer Partners, a Rockville, Md.-based provider of health science commercial real estate services, has formed an equity fund with Chevy Chase, Md.-based The JBG Cos. to acquire and develop 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, said the fund is a natural platform for Scheer Partners to capitalize on investment opportunities. He will be the fund’s managing member. “JBG's track record in securing superior commercial real estate investment returns is widely recognized,” Scheer says.
Since 1991, when Scheer Partners was founded, it has completed more than 500 projects with life sciences companies, totaling over 6.2 million sq. ft. of leasing, acquisition, design, and construction projects, as well as operating incubator and laboratory facilities.
The JBG Cos., founded in 1960, is an investment, management and development company, which develops, owns and operates office, residential, hotel and retail properties, and has more than $10 billion in assets under management and development.