ROCKVILLE, MD. — Scheer Partners and The JBG Companies have formed a $100 million equity fund with the goal of developing and acquiring life sciences real estate in the Washington DC area.
The fund, called the Greater Washington Life Sciences Fund, will provide a strong arm to pursue $300 million in life sciences real estate investments over the next three years.
Robert Scheer, president and founder of Scheer Partners, will serve as the fund’s managing member.
“The creation of Greater Washington Life Sciences Fund is a natural platform for us to utilize our vast knowledge of life sciences facilities to capitalize on key investment and development opportunities,” Scheer said.
The area’s biotech industry is nestled along Maryland’s Interstate 270 corridor. Scheer also said the partnership with JBG will position them for the future.
“We are thrilled to have a firm like The JBG Companies join us in this endeavor. JBG’s track record in securing superior commercial real estate investment returns is widely recognized,” Scheer said.
The JBG Companies, based in Chevy Chase, Md., is a developer, owner and operator of office, residential, hotel, and retail properties. Scheer Partners, based in Rockville, Md., provides landlord and tenant representation, facilities and property management, construction management, investment sales and development.