NexPoint, an investment firm, launched NexPoint Life Sciences III DST, a Delaware Statutory Trust, which acquired a life sciences industrial manufacturing property in Woodbury, MN. The DST expects to raise approximately $31 million through the offering.

The 138,000-square-foot property is the global headquarters for Kindeva Drug Delivery, a contract development and manufacturing organization (CDMO) that develops and manufactures products across a range of complex drug-delivery formats. The property is a research, formulation, and development facility for Kindeva with clinical manufacturing space, development lab space, offering a range of capabilities to support drug delivery solutions.

“Within life sciences, we see long-term value in facilities that support the growth of high demand biomanufacturing,” said Matt McGraner, NexPoint Real Estate Advisors’ chief investment officer. “CDMOs play a major role in that, helping life sciences companies reduce time to market, increase capacity, and successfully navigate the path to commercialization, making opportunities to invest in CDMO-operated facilities especially compelling.”