The Harrison Street Canada Alternative Real Estate Fund has acquired its first Canadian life sciences asset, 78,000 square feet of the newly constructed Evolution Block in Vancouver.
Evolution Block is a four-storey combined commercial and office building at 1055 Vernon St., which was developed by Metro Vancouver-based PC Urban and Nicola Wealth Real Estate. Created as a strata project, the upper three floors involved in this transaction had been acquired by Precision Nanosystems (PNI) for its new global headquarters and manufacturing facility.
Financial details of the acquisition were not released by Harrison Street.
“We’re proud to invest in Evolution Block, which fosters innovation, collaboration and discovery for the life sciences and medical fields in Vancouver, one of the fastest growing