Healthcare Realty Trust (NYSE:HR) has raised approximately $400M of proceeds from joint venture and asset sale transactions year-to-date, the real estate investment trust said on Wednesday.

Proceeds are expected to further rise to over $1B, thanks to additional asset sales and JV transactions under contract or LOI.

As previously disclosed, KKR has committed up to an additional $600M of capital to increase the potential value of its 80/20 JV with Healthcare Realty (HR) beyond the initial property contributions.

In the near term, additional property contributions are expected to generate incremental proceeds for Healthcare Realty of approximately $100M in August. These contributions would increase the value of the JV to approximately $500M.

The REIT is also expanding its existing JV relationship with Nuveen Real Estate, with an intended ~$400M in asset contributions. Healthcare Realty expects to contribute approximately $400 million of assets to a new Nuveen JV in two phases at a cap rate of approximately 6.6%.

Most of these transactions will likely be completed in the third quarter, with Healthcare Realty using the proceeds to fund accretive, leverage neutral share repurchases and existing capital commitments.