ARIZONA – Ventas will invest US$1.5 billion in research and innovation facilities at colleges throughout the country, starting with a $77 million project at Arizona State University.
The Chicago-based REIT is extending its partnership with college research facility developers “Wexford Science & Technology” with plans for about 10 new projects.
Ventas’ first project under this new investment is the development of a new research lab at Arizona State University’s Phoenix Biomedical Campus, a research district in downtown Phoenix. The project will break ground this quarter and will be delivered in late 2020, according to Ventas.
“Investing in research facilities will give Ventas a base of strong risk-adjusted returns as it seeks to get back to year-over-year growth”, the company said.
Source: The Real Deal