Chicago-based Ventas Inc. has purchased a portfolio of medical and life science properties in its ongoing mission to diversify its holdings. The $1.5 billion cash deal includes the acquisition of nearly all properties tied to Wexford Science & Technology, based in Baltimore, and several other properties with a university research connection.
The acquisition will include 23 life science and medical properties, including most of Wexford, which has traditionally been a company that partners with university research centers, including those at Duke, Yale and Wake Forest.
“This transaction … provides Ventas a unique opportunity to capitalize on increasing healthcare-driven research and development spurred and supported by top tier research universities,” Ventas CEO and Chairman Debra A. Cafaro said in a corporate press release. “We believe the growth opportunity is significant, and look forward to working with Wexford to help leading universities, academic medical centers and research companies fulfill their core missions.”
As a healthcare REIT, Ventas has interests in more than 1,300 assets in the United States, Canada and the UK.