08:21 AM EDT, 07/03/2024 (MT Newswires) -- Healthcare Realty Trust ( HR ) said Wednesday it has generated about $400 million from joint ventures and asset sales so far this year and anticipates exceeding $1 billion with additional transactions expected to close in Q3.

The company said it intends to use the proceeds for share repurchases and capital commitments.

KKR is increasing its contribution to the joint venture with Healthcare Realty ( HR ) by up to $500 million, the company said, citing a previous announcement. Additional property contributions are expected to bring in around $100 million in August, it added.

Additionally, Healthcare Realty ( HR ) said it is expanding its partnership with Nuveen Real Estate, contributing $400 million in assets in two phases.

The first phase, slated for an August completion, involves transferring eight Healthcare Realty ( HR ) properties valued at $193 million, with Nuveen providing 80% of the equity and Healthcare Realty ( HR ) retaining a 20% stake. The JV will also secure financing for 40% of the asset value, the company added.