John Cobb
CHICAGO—Ventas has unveiled a $1.5 billion pipeline that will focus on Research & Innovation investments projects developed through its partnership with Wexford Science & Technology. In total there will be approximately 10 projects with existing and new university relationships.
For their first project, Ventas and Wexford will be developing a research and innovation center anchored by Arizona State University.
The new pipeline “demonstrates the potential and value of this attractive business segment and positions us for meaningful, sustainable growth,” said John Cobb, Ventas Executive Vice President and Chief Investment Officer.
Wexford will develop and manage the new pipeline projects under its exclusive relationship with Ventas. The REIT currently owns 33 university-based R&I properties managed by Wexford, including one property under development, with a total investment of $2.1 billion, including remaining funding commitments on active developments. These properties are anchored by research universities including Brown, Duke, University of Pennsylvania, Wake Forest, Washington University and Yale.
Ventas and Wexford noted in their press release that is no assurance as to whether, when or on what terms the investments in the R&I pipeline will be completed.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
