# Dan Belldegrun

> Dan Belldegrun is the CEO and co-founder of Breakthrough Properties, a Los Angeles-based developer, owner and operator of life-science research facilities. After eight years in acquisitions and development at Tishman Speyer, where he worked on more than $575 million in transactions, he helped form Breakthrough in 2019 as a partnership between Tishman Speyer and Bellco Capital. His work sits at the junction of institutional real estate, biotech operations and sustainable design, with projects in major research clusters across the United States and Europe.

- **Role:** Chief Executive Officer and Co-Founder at Breakthrough Properties
- **Organizations:** Breakthrough Properties, Tishman Speyer, Bellco Capital
- **Education:** Bachelor of Arts in Urban Studies, University of Pennsylvania
- **Known for:** Co-founded a real estate company focused exclusively on life-science research and development environments., Completed more than $575 million in transactions during his Tishman Speyer tenure., Helped launch and lead Breakthrough's first $1 billion property fund and its subsequent global expansion.

## Career timeline

- **Before 2019** — Spent eight years at Tishman Speyer, becoming a Senior Director on acquisitions and development teams in the Bay Area and New York.
- **Before 2019** — Completed more than $575 million in transactions and managed entitlement, design and financing work for large development projects in San Francisco.
- **2019** — Co-founded Breakthrough Properties, a life-science real estate partnership between Tishman Speyer and Bellco Capital, and became CEO.
- **2020** — Breakthrough closed its first life-science property fund with $1 billion in commitments.
- **2022** — Breakthrough announced $3 billion in direct capital and co-investments for a global life-science real estate portfolio.
- **2023** — Construction began on One Milestone, the lab component of Harvard's Enterprise Research Campus in Allston.
- **2025** — Breakthrough acquired the 186,000-square-foot Muse campus in San Diego for $159 million and reported $430 million in commitments for its second growth portfolio.
- **2026** — A global biopharma company expanded its planned One Milestone innovation center from 30,000 to 100,000 square feet.

## Achievements

- Co-founded a real estate company focused exclusively on life-science research and development environments.
- Completed more than $575 million in transactions during his Tishman Speyer tenure.
- Helped launch and lead Breakthrough's first $1 billion property fund and its subsequent global expansion.
- Oversaw a portfolio strategy serving startups through StudioLabs as well as multinational pharmaceutical companies.
- Advanced projects with published sustainability targets, including a minimum LEED Gold or BREEAM Excellent goal for eligible new construction and a portfolio-wide operational net-zero target by 2050 or sooner.

## Latest updates

- **2026-01** — Breakthrough and Tishman Speyer announced that a global biopharma company would expand its forthcoming One Milestone Innovation Center from 30,000 to 100,000 square feet, with phased move-in beginning in mid-2026.
- **2025-12** — Belldegrun said Breakthrough had raised $430 million in commitments for its second growth portfolio and was targeting discounted existing assets and selected biomanufacturing opportunities rather than broad speculative development.
- **2025-02** — Breakthrough acquired Muse, a three-building, 186,000-square-foot life-science campus in San Diego's Torrey Pines area, for $159 million.

## Links

- Website: https://btprop.com/teambios-posts/dan-belldegrun/
- LinkedIn: https://www.linkedin.com/in/dan-belldegrun-06720247

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Profile page: https://yespress.io/dan-belldegrun
Published by YesPress — https://yespress.io
Last updated: 2026-08-27