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Ventas announces $800M of university-based developments

|About: Ventas, Inc. (VTR)|By:, SA News Editor

Ventas (VTR +1%partners with Wexford Science & Technology for four new developments totaling ~$800M in its university-based Research & Innovation business.

The investments are part of the near-term $1.5B R&I pipeline of expected new projects previously announced by Ventas.

The projects are 40% pre-leased and are expected to generate more than 7% cash yield and more than an 8% GAAP yield, upon stabilization.

The new projects include:

    A new research, academic medicine an innovation hub in relationship with University of Pittsburgh to house immunotherapy research in collaboration with the University of Pittsburgh Medical Center and co-located with UPMC's Shadyside Hospital;

    A new development that expands Philadelphia uCity Square Knowledge Communitiy associated with the University of Pennsylvania;

    Also in uCity Square, a College of Nursing and Health Professionals for Drexel University; and

    Expansion of Cortex Innovation Community associated with Washington University in St. Louis.

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