Healthpeak Properties and Morgan Stanley Real Estate Investing to form a joint venture in a $605m deal.

Healthpeak Properties, re-branded HCP, a fully integrated real estate investment trust company, and Morgan Stanley Real Estate Investing, a public funding company, agreed to form a joint venture in a $605m deal. The joint venture is the second between HCP and MSREI. The first joint venture holds a portfolio of medical office buildings that was acquired in 2015 for $225m. Following the closing of the above transactions, the HCP and MSREI relationship will span 3.2m square feet of leasable space across 33 properties.