Principal Asset Management has successfully acquired a life sciences facility in Alnwick, Northumberland, for its Log In fund, which focuses on life sciences and innovation properties. The 16,000 square meter property was secured through a sale-and-leaseback transaction, though the specific purchase price remains undisclosed.

This acquisition reflects Principal’s strategic focus on the expanding life sciences sector in the UK, particularly in regions like Alnwick, which is quickly establishing itself as a hub for life sciences research and development.

The broader life sciences real estate sector has experienced growing interest from investors, driven by factors such as aging populations and technological advancements in biotechnology.

This transaction is part of a wider trend where institutional investors are increasingly targeting specialised real estate assets, including life sciences facilities. Principal’s latest acquisition not only highlights its commitment to growing its life sciences real estate portfolio but also signals the presence of an existing tenant through the sale-and-leaseback structure, offering immediate income for the Log In fund.