Healthcare Realty Trust Expands Nuveen JV, Bringing Total Proceeds Year to Date to Approximately $700 Million

NASHVILLE, Tenn., Sept. 3, 2024 (GLOBE NEWSWIRE) — Healthcare Realty Trust Incorporated (NYSE:HR) has completed the contribution of eight properties for $193 million into a joint venture with Nuveen Real Estate (“Nuveen”). The new 80/20 JV has secured financing for approximately 40% of the contribution value. This previously announced JV expansion brings the total value of JVs with Nuveen to more than $600 million.

The company has completed over $800 million in joint venture and asset sale transactions to date this year, generating approximately $700 million in proceeds with an average capitalization ratio of 6.6%. The company has additional asset sale and JV transactions under contract or LOI that are expected to increase proceeds to over $1 billion. Proceeds are expected to fund accretive, leverage neutral share repurchases and existing capital commitments.