is the world’s largest commercial real estate market, the lab real estate market in particular is one of the smallest sectors among other commercial U.S. Notes Sir Nigel Wilson, Chief Executive of Legal & General Group, “While the U.S. ![]() Marking LGC’s first venture into the U.S., this partnership with Ancora forms an important part of its major growth strategy to deliver internationalization and attract third party capital. Legal & General Group currently manages over $1.8 trillion of assets globally and is increasing its presence in the U.S. Remaining committed to investing in the real economy to create a better society over the long term, for the first time we take this ethos to an international level beyond the UK’s town and city centers.” Observed Laura Mason, CEO of Legal & General Capital, “Through our partnership with Ancora, we will be able to leverage Legal & General’s significant experience in the science and technology sector in a new international market with strong growth potential. Bruntwood SciTech has quickly expanded over 11 UK locations, a model LGC will look to replicate across the U.S. LGC has a strong track record of establishing and scaling up innovative businesses and has led the way in driving science and technology growth through its Bruntwood SciTech partnership, the UK’s leading developer of innovation districts. As with other LGC investments, LGC aims to finance longer term cashflows and use them to back Legal & General’s annuity business, providing better value for policyholders and greater options for investors. To support future growth, LGC is seeking third party co-investment partners to accelerate scaling the portfolio. Ancora will be capitalized by LGC to deliver $4 billion (£3.2bn) of existing pipeline and planned acquisition and development activity over the next five years. The new venture builds on the successful track record of Ancora’s team and the investing record of LGC in the UK, including over $5 billion currently committed to science and technology development projects at Oxford and Manchester universities. where early mover advantages are available. Operating under the name Ancora, the business’ geographic focus will sit predominantly within emerging regional markets in the U.S. The deal will see Legal & General Capital investing an initial $500 million of seed capital to form a new company, Ancora L&G, LLC. ![]() Legal & General Capital (LGC) today announced that it has formed a 50:50 partnership with U.S.-based real estate developer Ancora to create a real estate platform dedicated to driving life science, research and technology growth across the U.S. ![]() London, England, UK and Durham, NC -News Direct- Legal & General This perspective enables us to catalyze the creation of places and environments that expand educational, research, and entrepreneurial capabilities – advancing the vitality of diverse US regions and communities.Legal & General Capital and U.S.-based real estate developer Ancora establish landmark 50:50 partnership as LGC internationalizes its platform to drive shareholder value ![]() It’s an altogether different and innovative approach, infrequently seen in the industry and executed with a commitment that is uniquely Ancora. We see a broader picture, one that goes beyond building buildings to encompass the communities they exist within. While we work in the real estate industry, what we do doesn’t stop there. It’s also why we do what we do: help institutions not just meet goals but achieve their aims, and then move them forward. Our work sits at the intersection of commercial real estate and the educational, healthcare, R&D, and commercialization demands driving higher education and medical institutions.įurthering our clients’ missions is core to what we do. A partnership of Ancora Real Estate Holdings LLC, and Legal & General Capital, Ancora is a mission-driven company – a vertically integrated investor, developer, and operator of life sciences, research, and mixed-use real estate in the United States.
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