Creative Science Properties Forms New REIT and Rebrands as IQHQ; Announces Closing of Initial $770 Million Raise
Creative Science Properties, Inc. announced today that it will change its name to IQHQ, Inc. IQHQ also announced that it has successfully completed a $770 million equity raise, including a private placement financing to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and project specific equity investments. Investment banker Raymond James led the financing. The raise and the new IQHQ brand represent the team’s unique ability to identify opportunities that support its partners in giving progress a home.
“Interest in the offering was very strong, particularly because the senior management team has an undeniable track record of driving investor performance and growing public REITs,” said Jamie Graff, Managing Director, Co-Head of Real Estate of Raymond James.
Alan Gold, Executive Chairman of IQHQ, and a pioneer of the life science real estate asset class, has teamed with experienced life science real estate veterans. Steve Rosetta will serve as Chief Executive Officer; Tracy Murphy will serve as President; and John Bonanno will serve as Chief Investment Officer.
“With access to significant capital and the ability to leverage our deep relationships across the life science sector, we are well positioned to fulfill our mission to develop environments that inspire progress and give innovation a home to grow,” said IQHQ CEO Steve Rosetta.
This release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company, nor shall there be any sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such jurisdiction. Any offers of the Company’s securities will be made only by means of a private offering memorandum.
“With access to significant capital and the ability to leverage our deep relationships across the life science sector, we are well positioned to fulfill our mission to develop environments that inspire progress and give innovation a home to grow.”
IQHQ, formerly Creative Science Properties, empowers the life science community to thrive and succeed by creating and developing environments that inspire progress and give innovation a home to grow. IQHQ’s focus is to acquire, develop and operate life science properties in the innovation hubs of San Francisco, San Diego and Boston in the United States, and the Golden Triangle in the United Kingdom. IQHQ has offices in San Diego and Boston. To learn more, visit www.iqhqreit.com