The joint venture encompasses four projects under development in two states, representing a combined investment of $930 million. : Ventas Inc. and GIC, the Singaporean sovereign wealth fund, have formed a joint venture that will initially own four in-progress university-based “Research & Innovation” development projects with a total cost of around $930 million. The parties noted that the joint venture might be expanded to include similar, already-identified future development projects. Ventas’ contribution was its ownership interest in the initial four projects; the REIT will retain a more than 50 percent stake, while GIC will own a 45 percent interest.