Ventas spends $3.5b in two transactions
Ventas has agreed to a pair of deals totaling $3.5 billion, expanding its ownership in the senior housing and medical sector.
The Chicago-based REIT agreed to buy American Realty Capital Health Care Trust for $2.6 billion in cash and shares. The deal is targeted to close during fourth quarter 2014. The acquisition still needs to be approved from ARC Health Care stockholders.
With the ARC Healthcare acquisition, Ventas would add 143 properties, comprising medical office buildings and senior housing communities, to its portfolio. Some of ARC Health Care’s assets include the 55,000-square-foot 16 New Scotland MOB in Albany, N.Y.; the two-building Athens Medical Complex in Athens, Ga.; the 88,390-square-foot Aurora Medical Office in Hartford, Wis.; and the Aurora Medical Center in Two Rivers Wis.
Ventas owned 1,029 medical office buildings and senior housing co