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Ventas Adds Blackstone's Wexford Assets

CHICAGO—The $1.5-billion acquisition expands the healthcare REIT's range to capitalize on “increasing healthcare-driven research and development spurred and supported by top tier research universities,” says CEO Debra Cafaro.

By Paul Bubny | paulbubny | Updated on July 06, 2016

Wake Forest Innovation Quarter The Wake Forest Innovation Quarter, which Wexford is developing in Winston-Salem, NC, is expected to open in 2017.

CHICAGO—Add research universities and academic medical centers to the range of Ventas Inc. The Chicago-based healthcare REIT said Tuesday afternoon that it had agreed to acquire substantially all of the life science and medical real estate assets of Wexford Science & Technology LLC from affiliates of Blackstone Real Estate Partners VIII LP for $1.5 billion in cash.

The transaction, which is expected to close in the fourth quarter, marks Ventas’ entry into the university-affiliated life science real estate business. It will be funded partly by a stock offering of nine million shares, for which Ventas announced pricing on Tuesday evening.

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