IRA CAPITAL EXPANDS SOUTHERN CALIFORNIA PORTFOLIO WITH LIFE SCIENCE CAMPUS PURCHASE

Glaukos focuses on three categories of eye health: Glaucoma, Corneal Health, and Retinal Disease. The company went public in 2015 and has a market capitalization of $1.8 Billion, with approximately $275MM of revenue.

According to IRA Capital partner Jay Gangwal, some of the key factors in the decision to purchase the asset were the project’s strong location within the budding Aliso Viejo life-science market, and Glaukos’ substantial capital investment and long-term commitment to the site.  In addition to signing a 13-year lease, Glaukos committed significant capital towards specialized R&D/Lab space at the property.  The company also acquired 2.8 acres of excess land for future development and expansion, further solidifying their long-term commitment to the site.

IRA continues to grow its healthcare real estate portfolio having acquired over $250 Million in the past 60 days, with the Aliso purchase being its 5th Southern California acquisition in the past year.  “Our company feels strongly that leading healthcare companies will continue to benefit from technological shifts and the demographic trends.  As a result, we have been strategically deploying our capital, and this acquisition aligns nicely with our investment objectives considering Glaukos’ dominant position in the global ophthalmic market.”

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