Ventas acquired Wexford Science & Technology life science and medical real estate portfolio for $1.5 billion, a transaction completed in September 2016, structured as All-cash purchase of real estate assets from Blackstone Real Estate Partners VIII; Wexford retained as manager under a long-term agreement with exclusive joint-development rights..
Wexford Science & Technology life science and medical real estate portfolio operates in Life science and medical real estate, is based in United States. Ventas acquired a life science and medical real estate portfolio associated with Wexford Science & Technology from Blackstone Real Estate Partners VIII. The portfolio comprised 23 operating properties totaling about 4.1 million square feet at roughly 97% occupancy, plus development projects pre-leased to Duke and Wake Forest universities and additional adjacent development sites. The transaction marked Ventas's entry into the life science real estate sector, with Wexford continuing to manage the assets under a long-term agreement and a joint development pipeline.
Enter and build a growth platform in the life science real estate sector, diversifying Ventas's healthcare real estate holdings and positioning it at the intersection of healthcare and real estate.
Advisory firms were not disclosed for this transaction.