Healthcare Realty Trust Expands KKR Joint Venture
Healthcare Realty Trust (NYSE:HR) has expanded its joint venture with KKR, contributing $118 million in additional properties and generating approximately $94 million in proceeds. The JV's value is now approaching $500 million. The company is exploring further acquisitions for the JV, including potential contributions of more Healthcare Realty properties.
Healthcare Realty also has additional asset sales and JV transactions under contract or LOI, expected to increase total proceeds to over $1 billion. Most of these transactions are anticipated to be completed in the third quarter, with proceeds funding accretive, leverage neutral share repurchases and existing capital commitments.
Healthcare Realty Trust (NYSE:HR) ha ampliato la sua joint venture con KKR, contribuendo con 118 milioni di dollari in proprietà aggiuntive e generando circa 94 milioni di dollari in proventi. Il valore della JV è ora vicino ai 500 milioni di dollari. L'azienda sta esplorando ulteriori acquisizioni per la JV, inclusi potenziali contributi di ulteriori proprietà di Healthcare Realty.
Healthcare Realty ha anche ulteriori vendite di attivi e transazioni di JV sotto contratto o LOI, che si prevede aumenteranno i proventi totali a oltre 1 miliardo di dollari. La maggior parte di queste transazioni è attesa per essere completata nel terzo trimestre, con proventi che finanzieranno riacquisti di azioni accrescitivi e neutrali rispetto all'indebitamento e impegni di capitale esistenti.
Healthcare Realty Trust (NYSE:HR) ha ampliado su joint venture con KKR, contribuyendo con 118 millones de dólares en propiedades adicionales y generando aproximadamente 94 millones de dólares en ingresos. El valor de la JV ahora está acercándose a los 500 millones de dólares. La empresa está explorando adquisiciones adicionales para la JV, incluidos posibles aportes de más propiedades de Healthcare Realty.
Healthcare Realty también cuenta con ventas de activos adicionales y transacciones de JV bajo contrato o carta de intención (LOI), que se espera aumenten los ingresos totales a más de 1 mil millones de dólares. La mayoría de estas transacciones se anticipa que se completarán en el tercer trimestre, con ingresos que financiarán recompras de acciones accretivas y neutrales en términos de deuda y compromisos de capital existentes.
Healthcare Realty Trust (NYSE:HR)는 KKR과의 조인트 벤처를 확대하였습니다, 추가 자산에 1억 1천 8백만 달러를 기여하고 약 9천 4백만 달러의 수익을 생성했습니다. JV의 가치는 이제 5억 달러에 근접하고 있습니다. 회사는 JV에 대해 추가 매입을 탐색 중이며, Healthcare Realty의 자산을 더 추가할 가능성을 포함합니다.
Healthcare Realty는 추가 자산 매각 및 JV 거래를 계약 또는 LOI 하에 진행 중입니다, 이는 총 수익을 10억 달러 이상으로 늘릴 것으로 예상됩니다. 이 거래들의 대부분은 3분기에 완료될 것으로 기대되며, 수익은 가치를 올리고 부채에 중립적인 주식 재매입 및 기존 자본 약속을 지원하는 데 사용될 예정입니다.
Healthcare Realty Trust (NYSE:HR) a élargi son partenariat avec KKR, en contribuant 118 millions de dollars en propriétés supplémentaires et générant environ 94 millions de dollars de produits. La valeur de la JV est maintenant proche de 500 millions de dollars. L'entreprise explore d'autres acquisitions pour la JV, y compris des contributions potentielles d'autres propriétés de Healthcare Realty.
Healthcare Realty a également d'autres ventes d'actifs et transactions de JV sous contrat ou lettre d'intention (LOI), qui devraient porter les produits totaux à plus de 1 milliard de dollars. La plupart de ces transactions devraient être finalisées au troisième trimestre, les produits finançant des rachats d'actions accrus et neutres en termes de levier et des engagements de capital existants.
Healthcare Realty Trust (NYSE:HR) hat seine Joint Venture mit KKR erweitert, indem es 118 Millionen Dollar in zusätzliche Immobilien investiert und etwa 94 Millionen Dollar an Erträgen generiert hat. Der Wert der JV liegt nun nahe bei 500 Millionen Dollar. Das Unternehmen erkundet weitere Akquisitionen für die JV, einschließlich möglicher Beiträge von weiteren Healthcare Realty-Immobilien.
Healthcare Realty hat auch weitere Vermögensverkäufe und JV-Transaktionen unter Vertrag oder LOI, die voraussichtlich die Gesamterträge auf über 1 Milliarde Dollar erhöhen werden. Die meisten dieser Transaktionen werden im dritten Quartal abgeschlossen erwartet, und die Erträge werden wertsteigernde, schuldenneutrale Aktienrückkäufe und bestehende Kapitalverpflichtungen finanzieren.
- Expansion of joint venture with KKR, generating $94 million in proceeds
- JV value approaching $500 million
- Additional asset sales and JV transactions expected to increase proceeds to over $1 billion
- Proceeds to fund accretive, leverage neutral share repurchases and existing capital commitments
- None.
Insights
The expansion of Healthcare Realty Trust's joint venture with KKR is a strategic move that strengthens the company's financial position. By contributing
The JV's growth to nearly
Investors should note the company's intention to use proceeds for share repurchases, which could be accretive to earnings per share if executed at attractive prices. However, the "leverage neutral" approach suggests a cautious stance on debt levels, potentially limiting aggressive expansion plans.
Healthcare Realty Trust's expansion of its JV with KKR reflects a broader trend in the healthcare real estate sector towards strategic partnerships. This move allows HR to unlock value from its existing portfolio while maintaining operational involvement and potential upside.
The approaching
The
Healthcare Realty Trust's expanded JV with KKR demonstrates a savvy capital management strategy. By leveraging partnerships, HR is effectively diversifying its capital sources beyond traditional debt and equity markets. This approach provides flexibility in a potentially volatile market environment.
The company's goal of generating over
The potential for additional HR property contributions to the JV hints at a phased execution strategy, allowing management to adjust based on market conditions and performance. This flexibility could be valuable in navigating economic uncertainties while pursuing growth opportunities.
KKR JV approaching
NASHVILLE, Tenn., Aug. 26, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) today announced it has contributed
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
“The expansion of our joint venture with KKR shows continued progress towards our goal of generating more than
About Healthcare Realty
Healthcare Realty is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty’s portfolio includes nearly 675 properties totaling approximately 40 million square feet concentrated in 15 growth markets. Additional information regarding the Company can be found at www.healthcarerealty.com.
Ron Hubbard
Vice President, Investor Relations
P: 615.269.8290
In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty, including its Annual Report on Form 10-K for the year ended December 31, 2023 under the heading “Risk Factors,” and in its Quarterly Reports filed thereafter and in the Company’s other SEC filings. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements.
FAQ
How much did Healthcare Realty Trust (HR) contribute to its KKR joint venture expansion?
What is the current value of Healthcare Realty Trust's (HR) joint venture with KKR?
When are the majority of Healthcare Realty Trust's (HR) asset sales and JV transactions expected to be completed?
How will Healthcare Realty Trust (HR) use the proceeds from its asset sales and JV transactions?
