Ventas Goes Big for Canadian Independent Living Portfolio

Ventas Goes Big for Canadian Independent Living Portfolio

Mergers and acquisitions in the Long-Term Care sector have been humming this year, with more than 200 transactions on the books through mid-June. But the sale prices, when disclosed, haven’t been as impressive. Finally, the first billion-dollar-plus deal was announced on June 3. Ventas, Inc. (NYSE: VTR) paid $1.8 billion (C$2.4 billion) for an 85% stake in a seniors housing portfolio located throughout the Canadian province of Quebec. The portfolio consists of 28 stabilized independent living communities (7,885 total units) in urban markets, with an average age of eight years. Three assets are set to open in 2019 with another 1,032 units, and four developments are expected to open in... Read More »