Global investment giant BlackRock and local fund manager Wentworth Capital have acquired a Red Cross blood-processing facility in Alexandria and a pharmaceutical laboratory in Macquarie Park as the first seed assets for a $1.5 billion Life Sciences investment platform.

The acquisitions follow the JV partners identifying life sciences – an emerging alternative real estate sector that includes laboratories and research hubs – as a sought-after asset class by global institutional investors and Australia as a market offering attractive buying opportunities.