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NEW YORK — February 12, 2026
Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), announced today the sale of a 352,000-square-foot pharmaceutical manufacturing and distribution facility in New Albany, Ohio. MSREI originally acquired the property in 2024 through a partnership with Vitrian and most recently executed a long-term lease with Him & Hers Health, Inc. (NYSE: HIMS), which will operate the facility.
Built in 2022, the facility features flexible Class A industrial and manufacturing specifications, and includes substantial investments in state-of-the-art, FDA-regulated current good manufacturing practices (cGMP) for cleanroom, laboratory and storage infrastructure.
Commenting on the sale, Will Milam, Head of Morgan Stanley Real Estate Investing U.S., said: “We are pleased with the successful lease-up and sale of this facility. This investment was underpinned by two powerful, long-term trends: an aging population driving sustained demand for healthcare-related real estate, as well as the reshoring of manufacturing to the United States. These dynamics have been particularly evident in manufacturing hubs like New Albany, which has attracted substantial corporate investment in recent years.”
The facility is in the center of the rapidly expanding New Albany submarket of Columbus, which has attracted nearly $36 billion in corporate investment since 2021 across data center, semiconductor, pharmaceutical and other manufacturing users.
JLL acted as financial advisor on the sale.
About Vitrian
Vitrian is a national platform supporting critical industries through capital investment and project management services with a focus on biomanufacturing and supply chain facilities. Vitrian partners with leading pharma companies, biostorage/logistics companies, CDMOs, top-tier academic medical centers and strategic healthcare investors and financial sponsors. Complimentary to facility investments, Vitrian advises on US market entry, corporate and site M&A, and manufacturing/supply chain strategy. For more information, visit vitrian.com
About Morgan Stanley Real Estate Investing
Morgan Stanley Real Estate Investing (MSREI) is the global private real estate investment management business of Morgan Stanley. One of the most active property investors in the world for over three decades, MSREI employs a patient, disciplined approach through global value-add / opportunistic and regional core / core-plus real estate investment strategies. With 17 offices throughout the U.S., Europe and Asia, regional teams of dedicated real estate professionals combine a unique global perspective with local presence and significant transaction execution expertise. MSREI currently manages $55 billion of gross real estate assets worldwide on behalf of its clients.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,400 investment professionals around the world and $1.9 trillion in assets under management or supervision as of December 31, 2025. Morgan Stanley Investment Management strives to provide strong long-term investment performance, outstanding service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.
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