NEXUS at The Allston Innovation Corridor/ Image courtesy of DiMella Shaffer

A $1.5 billion investment from Brookfield Asset Management will fuel Boston-based life science developer King Street Properties’ expansion into new markets including the West Coast.

King Street has formed a partnership with one of Brookfield’s private real estate funds to invest in major life science markets including New York, the Raleigh-Durham Research Triangle, the San Francisco Bay area and San Diego.

Under the new partnership with Brookfield – which has a total $625 billion under management – King Street will receive $1.5 billion in equity from Brookfield for its future life science investment pipeline. The transaction also includes Brookfield’s acquisition of an interest in King Street’s operating platform.

After helping establish a new life science cluster in Cambridge’s Alewife section and western suburbs such as Framingham, King Street Properties is starting the buildout of a $500 million biomanufacturing campus at MassDevelopment’s Devens campus.

King Street is seeking approval of the 515,000-square-foot NEXUS life science campus on Allston’s Western Avenue, in a partnership with Mugar Enterprises and the owners of the Stadium Auto Body property.

King Street has developed approximately 4 million square feet of life science facilities since its founding in 2002, currently owns 2.5 million square feet of properties and has another 2.3 million square feet under development.

“This is a growth strategy for us. Our alignment with Brookfield allows us to rapidly scale our already-successful platform in both established and rising life science markets and in new product types such as biomanufacturing,” King Street Co-Managing Principal Stephen Lynch said in a statement.

PJT Partners was financial advisor to King Street Properties and Goodwin Procter LLP served as legal counsel.