The Ventas Life Science and Healthcare Real Estate Fund has acquired a trophy life science portfolio in the South San Francisco life science cluster for $1 billion. The seller is Bain Capital Real Estate.
Ventas is the sponsor and general partner of the fund, which is a perpetual life vehicle focused on investments in core and core plus life science, medical office and senior housing real estate in North America.
The purchase price for the portfolio represents approximately a 5% capitalization rate on forward cash net operating income. The average escalator for the portfolio exceeds 3%. The seller is an affiliate of the partnership from which Ventas acquired 1030 Massachusetts Ave., in Cambridge, Mass., last year.
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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.
