CHICAGO — Seniors housing REIT giant Ventas (NYSE: VTR) has announced plans to further diversify its portfolio by launching a $1.5 billion, university-based research & innovation development pipeline.
Chicago-based Ventas will expand its partnership with Wexford Science & Technology to deliver the new properties. Through this partnership, the companies have already agreed to develop a $77 million, Class A research and innovation center anchored by Arizona State University as the first property in the pipeline.
The project will total 10 projects, utilizing existing and new university relationships.
Ventas currently owns 33 university-based R&I properties managed by Wexford, including one property under development, with a total investment of $2.1 billion. University partners include Brown, Duke, University of Pennsylvania, Wake Forest, Washington University and Yale.