Healthcare Realty Trust Incorporated (NYSE:HR) has announced an additional $118 million property contribution to its joint venture with KKR, bringing the JV’s value close to $500 million and generating $94 million in proceeds. The company, in collaboration with KKR, continues to explore further acquisitions for the JV, potentially including more properties from Healthcare Realty. Additionally, the company reported that ongoing asset sales and JV transactions under contract are expected to reach over $1 billion in proceeds, with most transactions completing in Q3. These proceeds aim to support leverage-neutral share repurchases and existing capital commitments. Todd Meredith, President and CEO, emphasized the importance of these transactions in generating growth capital and optimizing the company’s portfolio. Healthcare Realty, the first and largest REIT specializing in medical outpatient buildings, owns approximately 675 properties totaling around 40 million square feet across 15 growth markets.
Real Estate Investment Trusts (REITs), Private Equity, Healthcare Real Estate,United States
https://www.globenewswire.com/news-release/2024/08/26/2935817/0/en/Healthcare-Realty-Trust-Expands-KKR-Joint-Venture.html