Catalyst, Nuveen Form $400M Healthcare Real Estate Venture

Catalyst Healthcare Real Estate and Nuveen Real Estate have formed a $400 million equity joint venture to finance approximately $1.3 billion of development costs across Catalyst’s national pipeline.

The venture will fund most of Catalyst’s contracted ground-up developments from 2026 through 2028, focusing on high-growth U.S. markets. Planned property types include medical offices, specialty health care facilities and healthspan projects supporting academic institutions and health systems.

“This venture strengthens our ability to deliver best-in-class healthcare real estate across a broad range of asset types and markets,” Catalyst founder and CEO Chad Henderson said.

Nuveen has raised significant equity for health care development since 2025 and is targeting high-acuity facilities nationwide.

“Catalyst has an innovative approach to healthcare real estate development,” said Tim Racine, Nuveen’s head of health care development.

The Blackbirch Capital and CBRE Healthcare team served as Catalyst’s exclusive adviser on the venture’s formation.

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