Ventas investing $1.5B into university research facilities, starting in Arizona The Chicago-based REIT is partnering with Wexford to develop about 10 university projects
Debra Cafaro and the Campus of Arizona State University in Phoenix (Credit: iStock)
Ventas will invest $1.5 billion in research and innovation facilities at colleges throughout the country, starting with a $77 million project at Arizona State University.
The Chicago-based REIT is extending its partnership with college research facility developers Wexford Science Technology with plans for about 10 new projects, Ventas executives announced during an earnings call Friday.
The partnership and sizable investment will ensure Ventas and Wexford remain leaders in the university research development market, said John Cobb, chief investment officer at Ventas. The plan “demonstrates the potential and value of this attractive business segment and positions us for meaningful, sustainable growth,” he said in a statement.
Ventas’ first project under the n上海千花网论坛 ew investment is the development of a new research lab at Arizona State University’s Phoenix Biomedical Campus, a research district in downtown Phoenix. The project will break ground this quarter and will be delivered in late 2020, according to Ventas爱上海同城手机版 .
Ventas has a 1,100-property portfolio that is heavily concentrated with senior housing centers (727) and medical offices (358), according to its website. The REIT began investing in research facilities i上海千花社区 n 2[……]