Ventas Inc Expands Senior Housing Portfolio

October 22, 2010 / Samantha Bartolata, Editor in Chief

Ventas Inc will increase its portfolio on senior housing in New England, California and New York. Ventas, the U.S. second-leading health-care REIT acquired the worth $1.5 billion Atria Senior Living Group facilities. The 118 facilities Atria senior housing is administered by Lazard Real Estate Partners and is owned by a private-equity funds, which are worth $150 million in cash and $1.35 billion shares,.

Ventas Inc Expands Senior Housing Portfolio

Ventas Inc. said that the senior housing acquisition includes considerably all of Kentucky, Louisville-based Atria’s real estate properties.

The company is also the second-leading United State’s health-care REIT with about 598 healthcare-related facilities that consist of roughly 50,000 licensed beds and senior housing units.

The company said that the deal will broaden the company’s horizon in terms of its net operating income and revenues. This is the company’s sixth most important senior housing acquirement since 2004.

Debra Cafaro, Ventas’s Chief Executive Officer said that the deal will boost the company’s cash flows’ reliability and diversification.

Cafaro also said that Atria Senior Living Group properties are greatly in-demand company and a greatly in-demand asset pool.

Lazard Real Estate Partners will be Ventas’ biggest stockholder, and then Lazard’s chief executive officer Matthew J. Lustig, will be on Ventas’s board.

Debra Cafaro also said that Lazard Real Estate Partners will become one of Ventas’s biggest stakeholders because it believes in the company, and about 15 per cent of its stocks will be given a 18-month lock-up period.

According to a Ventas’s website presentation, about 68 percent of Atria’s net operating income is from its properties in New England, New York and California. Each company possess a 26 senior housing properties in the most populous state—California.

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