Nuveen Real Estate has partnered with Catalyst Healthcare Real Estate in a $400m (€346.8m) joint venture created to support $1.3bn of healthcare property developments across the US over the next three years.
The capital will fund a majority of Catalyst’s contractual ground-up development pipeline between 2026 and 2028, targeting a range of asset types including medical office buildings, specialty facilities and academic healthspan initiatives.
Chad Henderson, founder and CEO, Catalyst Healthcare Real Estate, said: “This venture strengthens our ability to deliver best-in-class healthcare real estate across a broad range of asset types and markets, from medical office and specialty healthcare facilities to our healthspan initiatives supporting academic institutions and healthcare systems nationally.
“Nuveen’s scale, sector expertise, and long-term investment horizon make them a strong strategic capital partner as Catalyst continues to grow.”
Eric Fischer, chief development officer, Catalyst Healthcare Real Estate, said: “Nuveen brings exactly the kind of geographic reach, sector depth, and long-term capital discipline that supports Catalyst’s development pipeline at scale.
“Their understanding of how healthcare real estate needs are evolving across health systems, academic partners, and specialty providers alike made this a natural fit as we expand our capital partner base.”
Andrew Pyke, head of healthcare real estate, Nuveen, said: “We are excited to be partnering with the Catalyst team. Catalyst has a unique proprietary pipeline of development opportunities generated by their deep industry relationships and sector expertise.”
Tim Racine, head of healthcare development, Nuveen Real Estate, said: “Catalyst has an innovative approach to healthcare real estate development. We can’t wait to kick off this partnership and collaborate on some truly groundbreaking projects.”
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