Healthcare Realty Trust Provides Update On Capital Allocation Progress, Has Contributed 10 Properties To The KKR JV That Have Generated $227M Of Proceeds; Has Additional Transactions Under Contract And Letters Of Intent That Are Expected To Generate Further Proceeds Of More Than $300M By Early August
Portfolio Pulse from Benzinga Newsdesk
Healthcare Realty Trust (NYSE:HR) has contributed 10 properties to its joint venture with KKR, generating $227 million in proceeds. The company expects further transactions to generate over $300 million by early August. KKR has committed up to an additional $600 million, potentially increasing the JV's value to $1 billion. Healthcare Realty will retain a 20% interest and manage the JV.
June 03, 2024 | 8:16 pm
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Healthcare Realty Trust has generated $227 million from its joint venture with KKR and expects to generate over $300 million more by early August. KKR's additional commitment of up to $600 million could increase the JV's value to $1 billion. Healthcare Realty will retain a 20% interest and manage the JV.
The significant proceeds from the JV and the potential for further capital infusion from KKR are positive indicators for Healthcare Realty Trust. The company's retained interest and management role in the JV also suggest ongoing revenue streams and operational control.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100