Ventas Acquires Wexford Properties

Ventas Inc. has agreed to acquire nearly all of the life science and medical properties of Wexford Science and Technology LLC., for nearly $1.5 billion. As part of the deal, Ventas has arranged to give Wexford exclusive rights to jointly develop their future projects.

The Blackstone Group LP, acquired Wexford parent Biomed Reality Trust, another REIT, for $8 million earlier this year.

Ventas Purchase is made up of 23 properties and two development sites, including Yale University, Wake Forest University, and Alexion Pharmaceuticals. Ventas owns close to 1,300 properties in the U.S., Canada, and the U.K., including senior-housing complexes, medical office structures, and specialty hospitals. Ventas’ stock has already jumped 31 percent this year and the company plans to sell 9 million shares to help fund this purchase.

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