Healthcare Realty Trust Announces Strategic Joint Venture with KKR

Healthcare Realty Trust Incorporated (NYSE:HR) announces that it has entered into a strategic joint venture (JV) relationship with KKR to jointly own and invest in quality medical outpatient buildings. Healthcare Realty expects to receive approximately $300 million in proceeds for the contribution of a seed portfolio to the JV and will partner with KKR to explore additional acquisitions, including the potential contribution of more Healthcare Realty properties to the JV. Under the terms of the agreement, Healthcare Realty will contribute 12 of its existing properties to seed the JV at a value of $382.5 million, representing a cap rate of approximately 6.6%. KKR will make an equity contribution to the JV equal to 80% of the value of the properties.

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Source: https://www.globenewswire.com/news-release/2024/05/06/2875666/0/en/Healthcare-Realty-Trust-Announces-Strategic-Joint-Venture-With-KKR.html

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