CHICAGO: Ventas Inc. announced that the Ventas Life Science and Healthcare Real Estate Fund, L.P. has acquired a trophy life science portfolio in the premier South San Francisco life science cluster for $1.0 billion.
Ventas is the Sponsor and General Partner of the Fund, which is a perpetual life vehicle focused on investments in core and core plus life science, medical office and senior housing real estate in North America.
“We are pleased to further expand our growing research & innovation footprint into the premier South San Francisco life science cluster with the acquisition of this outstanding lab portfolio,” said Debra A. Cafaro, Ventas Chairman and Chief Executive Officer.
“Strong and growing capital flows into the life science sector are accelerating innovation and discovery. These flows support the demand for first class lab space in dynamic markets like South San Francisco. Ventas now owns or has an investment in over seven million square feet of research & innovation properties located in the life science clusters of Cambridge, South San Francisco, and on the campuses of over 15 top tier research universities.”
“The Ventas Life Science and Healthcare Real Estate Fund has raised more than $1 billion of equity, with continued capacity to grow, and more than doubled its assets under management to $1.8 billion. The growth of the Fund is a testament to the tremendous market opportunity across the healthcare sectors of life science, medical office and senior housing real estate,” added Cafaro.
“Our stakeholders continue to benefit from Ventas’s capabilities, strategic reach and team.”
Ventas Inc., an S&P 500 company, is a real estate investment trust with a highly diversified portfolio of senior housing, life science, and healthcare properties located throughout the United States, Canada and the United Kingdom.
As of June 30, 2020, Ventas owned or managed through unconsolidated joint ventures approximately 1,200 properties (including properties classified as held for sale), consisting of senior housing communities, medical office buildings, life science centers, inpatient rehabilitation and long-term acute care facilities, and health systems.
Through its Lillibridge subsidiary, Ventas provides management, leasing, marketing, facility development and advisory services to highly rated hospitals and health systems throughout the United States.
