Jefferson pursues sale of some of its health care real estate holdings

Business Journal | January 15, 2020

Jefferson pursues sale of some of its health care real estate holdings
Thomas Jefferson University and Jefferson Health said Monday it is planning to form a long-term partnership with an Ohio real estate investment trust to free up cash for other projects, including accelerating the expansion of its network of ambulatory care centers. Under the terms of a memorandum of understanding, Welltower Inc. (NYSE: WELL) of Toledo and Jefferson plan to create a joint venture where Welltower would acquire a stake in certain real estate assets of Jefferson. Jefferson officials, while not disclosing which properties would be in play, said the move would enable it to reduce some of its fixed-asset investments and redeploy the capital to other clinical and academic strategic areas. Jefferson and Welltower expect to finalize a definitive agreement by mid-April. The organizations said the financial terms of the partnership are still being negotiated. Along with the joint venture, the alliance also calls for Welltower to provide financial support and analytical tools to help Jefferson's with future real estate investments.

Spotlight

Our construction team continues to grow in both geographic reach as well as product diversity. Bozzuto’s construction division is one of the Mid-Atlantic’s fastest-growing general contractors (in-house and 3rd party projects) specializing in complicated urban infill high-rise and mixed-use projects, retail, assisted and senior living.

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Spotlight

Our construction team continues to grow in both geographic reach as well as product diversity. Bozzuto’s construction division is one of the Mid-Atlantic’s fastest-growing general contractors (in-house and 3rd party projects) specializing in complicated urban infill high-rise and mixed-use projects, retail, assisted and senior living.