Wexford acquired by Ventas for $1.5 billion.
I wonder if this sale will affect this development, or if it even includes these parcels (since the UCSC is the landowner I'm not sure it would have been included in the deal). The article notes that:
Quote:
The portfolio involves 23 operating properties with 4.1 million square feet and two development assets comprising around 400,000 square feet of space. The company is also buying nine development sites mainly adjacent to existing assets.
Tenants of these assets comprise leading universities, academic medical centers and research companies, including Yale University, the University of Pennsylvania Health System, Washington University in St. Louis, Wake Forest University and Alexion Pharmaceuticals, Inc.
As part of the buyout, Ventas will enter into an agreement that would allow the company exclusive rights to jointly develop future projects with Wexford. On the other hand, Wexford will continue to manage the portfolio and be independently owned and operated.
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Simply reading between the lines seems to indicate that Ventas does plan on continuing to develop the sites that Wexford planned on developing.