Healthcare Realty Trust Expands KKR Joint Venture

 Healthcare Realty Trust Incorporated just announced it has contributed $118 million of additional properties to its joint venture with KKR, generating approximately $94 million of proceeds.

The value of the JV is now approaching $500 million. Healthcare Realty Trust Inc. and KKR are continuing to explore additional acquisitions for the JV, including the potential contribution of more Healthcare Realty properties.

As previously disclosed in July, Healthcare Realty Trust Inc. also has additional asset sales and JV transactions under contract or LOI that are expected to increase proceeds to over $1 billion. The majority of these transactions are expected to be completed in the third quarter, with proceeds expected to fund accretive, leverage neutral share repurchases and existing capital commitments.

“The expansion of our joint venture with KKR shows continued progress towards our goal of generating more than $1 billion of proceeds from asset sale and JV transactions,” stated Todd Meredith, President and CEO. “Our existing joint venture relationships are providing us with proceeds in the current market environment and alternative sources of growth capital over the longer term.”

About Healthcare Realty

Healthcare Realty is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty’s portfolio includes nearly 675 properties totaling approximately 40 million square feet concentrated in 15 growth markets. Additional information regarding the Company can be found at www.healthcarerealty.com.

Source: GlobeNewswire