Healthcare Realty Trust contributes additional $118m to KKR JV

Healthcare Realty Trust 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. The company 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, the company also has additional asset sales and JV transactions under contract or LOI that are expected to increase proceeds to more than $1 billion. Most 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 at Healthcare