Healthcare Realty Trust Expands KKR Joint Venture
Healthcare Realty Trust (NYSE:HR) has expanded its joint venture with KKR, contributing $118 million in additional properties and generating approximately $94 million in proceeds.
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Rhea-AI Summary
Healthcare Realty Trust (NYSE:HR) has expanded its joint venture with KKR, contributing $118 million in additional properties and generating approximately $94 million in proceeds. The JV's value is now approaching $500 million. The company is exploring further acquisitions for the JV, including potential contributions of more Healthcare Realty properties.
Healthcare Realty also has additional asset sales and JV transactions under contract or LOI, expected to increase total proceeds to over $1 billion. Most of these transactions are anticipated to be completed in the third quarter, with proceeds funding accretive, leverage neutral share repurchases and existing capital commitments.
Positive
- Expansion of joint venture with KKR, generating $94 million in proceeds
- JV value approaching $500 million
- Additional asset sales and JV transactions expected to increase proceeds to over $1 billion
- Proceeds to fund accretive, leverage neutral share repurchases and existing capital commitments
Negative
- None.
Details
News Market Reaction – HR
The recorded move for HR in the trading session of this news was +0.23%.
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KKR JV approaching
NASHVILLE, Tenn., Aug. 26, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) today announced it has contributed
As previously disclosed in July, the Company also has additional asset sales and JV transactions under contract or LOI that are expected to increase proceeds to over
“The expansion of our joint venture with KKR shows continued progress towards our goal of generating more than
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.
Ron Hubbard
Vice President, Investor Relations
P: 615.269.8290
In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty, including its Annual Report on Form 10-K for the year ended December 31, 2023 under the heading “Risk Factors,” and in its Quarterly Reports filed thereafter and in the Company’s other SEC filings. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements.
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