logo
Plus   Neg
Share
Email

Ventas Announces University-Based R& I Development Pipeline Exceeding $1.5 Bln

Ventas Inc. (VTR) announced a development pipeline in its university-based Research & Innovation business exceeding $1.5 billion in new investments. The R&I Pipeline will be developed through the Company's extended, exclusive partnership with Wexford Science & Technology, LLC, developer of university-focused real estate solutions.

Ventas, in partnership with Wexford, has reached an agreement to develop a class-A research and innovation center anchored by Arizona State University as the first committed development in the R&I Pipeline.

In total, the R&I Pipeline is expected to be comprised of approximately 10 projects with existing and new university relationships, and will significantly enhance the Ventas/Wexford market position as the leading developer of research and innovation-focused Knowledge Communities with top-tier research universities.

Wexford will develop and manage the R&I Pipeline projects under its exclusive relationship with Ventas. The company currently owns 33 university-based R&I properties managed by Wexford, including one property under development, with a total investment of $2.1 billion, including remaining funding commitments on active developments.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The National Aeronautics and Space Administration or NASA extended its contract with Boeing to build the rocket core stages for its Space Launch System or SLS beyond the first two Artemis missions, and through the next decade. Boeing is the current lead contractor for the core stages of the rockets for the first two missions. The new contract includes the production of ten SLS core stages. The U.S. Food and Drug Administration approved an all-time record total of 1,171 generic drugs in fiscal 2019, breaking its previous record of 971 approvals in fiscal 2018. This year's approvals include 935 full approvals and 236 tentative approvals. A generic drug is a pharmaceutical drug that contains the same chemical substance and performs the same functions as a branded drug. Air Canada has extended its grounding of Boeing's 737 MAX-8 aircraft and removed it from its flying schedule until February 14, 2020. The airline had earlier said its fleet of 24 grounded jetliners will not join its schedules until January 8, 2020. The Canadian flag carrier said the extension is a result of the ongoing regulatory uncertainty about the timing of the aircraft returning to service.
RELATED NEWS
Follow RTT
>