Healthcare Realty Trust Expands KKR Joint Venture

KKR JV nears $500 million in value with new asset infusion

NASHVILLE, Tenn., Aug. 26, 2024 (GLOBE NEWSWIRE) — Healthcare Realty Trust Incorporated (NYSE:HR) today announced that it has contributed $118 million of additional properties to its joint venture with KKR, generating approximately $94 million in proceeds. The value of the JV is now approaching $500 million. The company and KKR continue to explore additional acquisitions for the JV, including the potential contribution of additional 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 over $1 billion. The majority of these transactions are expected to close in the third quarter, with proceeds expected to fund accretive, leverage-neutral share repurchases and existing capital commitments.