Wexford Science & Technology Becomes Independent
- Sep 12, 2016
By Keith Loria, Contributing Editor
Baltimore—Wexford Science & Technology LLC has become an independent company, owned and operated by its existing management team, on the heels of Ventas’ $1.5 billion acquisition of Wexford’s real estate assets from affiliates of Blackstone Real Estate Partners VIII LP.
“During its 10-year history, Wexford has focused on providing real estate development strategies and solutions exclusively to research universities, academic medical centers, and research institutions through the execution of its Knowledge Community platform,” Tom Osha, Wexford Science + Technology’s senior vice president of innovation and economic development, told Commercial Property Executive. “As an independent company, Wexford is able to remain focused on working with these research-centric institutions to create vibrant, amenity-rich innovation districts centered on research, discovery, and entrepreneurial activity.”
Under its strategic agreement with Ventas, Wexford will continue to manage the acquired portfolio on Wexford’s knowledge community platform, as well as enhance its financial capacity to fuel future growth and expansion of the platform.
Wexford has developed, and currently operates, 12 Knowledge Community projects across the U.S., consisting of 14 university, academic medical center and research institution relationships. Several of Wexford’s projects have earned international recognition as leading innovation districts.
“As an independent company Wexford will remain focused on its mission of providing real estate development strategies and solutions to universities, academic medical centers, and leading research institutions,” Osha said. “It will continue to be led by its existing management team.”
The company also maintains a substantial pipeline of potential projects that will fuel future growth as it continues to see strong demand for its vibrant, mixed-use, amenity-rich environments that foster innovation and collaboration.
“Wexford will continue to focus on managing and growing its Knowledge Community platform,” Osha said. “New projects are under various stages of development across the existing platform, and conversations are taking place with new institutions across the country.”