June 18, 2019 Comments Off on Ventas Adds Schools in PA, MO to University-Based Business Views: 301 National News, Northeast, Pennsylvania

Ventas Adds Schools in PA, MO to University-Based Business

Ventas is adding four new developments totaling approximately $800 million to its university-based Research & Innovation (R&I) business, all in Ventas’ ongoing partnership with Wexford Science & Technology. The projects are being undertaken with the University of Pittsburgh Medical Center; the University of Pennsylvania and Drexel University, both in Philadelphia; and Washington University in St. Louis.

Including the new developments, Ventas has relationships with more than 15 leading research universities in its R&I portfolio. The healthcare REIT’s R&I portfolio will now total nearly eight million square feet, and is expected to generate approximately $230 million in annual NOI upon stabilization.

“With $0.9 billion of our $1.5-billion development pipeline announced, we look forward to bringing these projects to successful completion, while we also work to make the balance of our near-term pipeline a reality,” said John Cobb, EVP and CIO at Ventas.

Pictured: Rendering of the Pitt Immune Transplant & Therapy Center in Pittsburgh

Read more at BusinessWire

Connect With Ventass’ Cobb

Connect With United Properties

Subscribe to Connect Daily National

For comments, questions or concerns, please contact Paul Bubny

Tags: ,

Comments are closed.

Send this to a friend