Ventas holds first close of fund targeting life science, medical office and senior housing

Ventas has completed the initial closing of the previously disclosed Ventas Life Science and Healthcare Real Estate Fund, a perpetual life vehicle that focuses on investments in core and core-plus life science, medical office and senior housing real estate in North America

At inception, the fund has more than $700 million in assets under management and third-party equity commitments of approximately $650 million from globally respected institutional investors. The fund provides a growth platform for Ventas and leverages its brand, industry knowledge and team.

To seed the fund, Ventas contributed five high-quality, stabilized life science and medical office assets comprising 1.2 million square feet of space. The fund will have a conservative capital structure, in line with the company’s targets, and the fund has secured a $300 million line of credit to facilitate new investments. The company intends to grow the fund’s assets under management principally from the acq