KKR, Cornerstone to invest $1B in ASC, physician group real estate

New York City-based investment firm KKR and Indianapolis-based healthcare real estate firm Cornerstone are partnering to buy more than $1 billion in real estate assets over the next few years.

KKR and Cornerstone will focus on acquiring ASCs, single-tenant medical office buildings and facility-based outpatient centers, the companies said in a news release.

The plan is being financed through a recapitalization of 25 existing Cornerstone properties, including medical office buildings and ASCs across 12 states. Additional details of the deal were not disclosed.

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