Mar
16

Blackstone Sells Value-Add Medical Campus in Providence

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Ventas is the new owner of the historic property, which includes South Street Landing, a redeveloped 269,000-square-foot municipal power station anchored by Brown University.

Providence, R.I.—Ventas Inc. has purchased a life science, research and medical campus in Providence, R.I., from affiliates of Blackstone Real Estate Partners VIII LP, the Chicago-based REIT announced Tuesday.

The acquisition’s nearly $130 million price tag covered South Street Landing, a redeveloped 269,000-square-foot former municipal power station, as well as an adjacent newly constructed 744-car parking garage. The building is 100 percent leased to Brown University for academic administrative offices and the Nursing Education Center, an initiative between Rhode Island College and University of Rhode Island’s nursing programs…

Blackstone Sells Value-Add Medical Campus in Providence

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