By: Emma Orr, Katherine Chiglinsky, and Doni Bloomfield
The biotechnology industry’s growth is providing the chance to attain attractive returns on commercial property in markets from Boston to Munich to Shanghai, according to Taimur Hyat, chief strategy officer for PGIM, Prudential Financial Inc.’s $1 trillion asset-management arm.
“Biotech is causing a revolutionary change in the type of real estate opportunities we are seeing,” he said in a televised interview Tuesday with Bloomberg’s Betty Liu and Matt Miller. Laboratories and offices can be “very sticky, long-term investments,” given the demand for space. [Read More]