February 12, 2019
Chicago-based Ventas, Inc. reported its development pipeline in the university-based Research & Innovation (R&I) sector now exceeds $1.5 billion in new investments. Assets will be developed through the company’s extended, exclusive partnership with Wexford Science & Technology, LLC.
The team plans to develop a $77-million Class A research and innovation center anchored by Arizona State University, as the first committed development in its R&I pipeline. The fully lab-enabled academic and commercial research facility will be focused on biomedical discovery and innovation in health outcomes. The site is located within the Phoenix Biomedical Campus, a 30-acre urban innovation district in the heart of downtown.
Eventually, the pipeline is envisioned to encompass roughly 10 projects with existing and new university relationships, and will significantly enhance the Ventas/Wexford market position as the leading developer of research and innovation-focused knowledge communities with top-tier research universities. Ventas currently owns 33 university-based R&I properties managed by Wexford, with a total investment of $2.1 billion.
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