Ventas, Inc., a leading healthcare real estate investment trust, agrees to acquire a diverse portfolio of 67 healthcare and seniors housing properties from entities affiliated with Canada’s Reichmann family.
On September 8, Willkie client Ventas, Inc., a leading healthcare real estate investment trust, announced it has entered into a $649 million agreement to acquire a diverse portfolio of 67 healthcare and seniors housing properties from entities affiliated with Canada’s Reichmann family. Located in 16 states, the portfolio comprises four separate asset groups, containing 5,855 beds/units: 1) Health Care Group – five high-end multi-level retirement communities and two dementia care communities located in southern California; 2) United Rehab – 19 healthcare assets located primarily in Kentucky; 3) Elmcroft – eight newer assisted living communities located in the southeastern United States; and 4) Outlook Pointe – 33 newer assisted living communities located primarily in the mid-Atlantic region. Ventas, Inc., the nation's largest owner of seniors housing and long-term care assets, has a diverse portfolio of properties, including independent and assisted living facilities, skilled nursing facilities, hospitals and medical office buildings, located in 42 states. The Willkie team on the deal includes: Corporate: Steven Seidman (partner), Rosalind Fahey Kruse (partner), Mark Getachew, and Manuel Miranda; Tax: Henry Cohn (partner), James Brown (partner), and Natalie Tal; Employee Benefits: David E. Rubinsky; Real Estate: Steven Klein (partner), Gary Litke, Mal Serure, Daniel Backer, Bernadette Davida, Kate Dolan, Alycia Green, Leah Harary, Jack Horn, Rachel Kaunfer, Aileen Moyano, and Debra Sapp; and Environmental: Carolyn Conkling (special counsel), Kevin Klesh, Michael Caplan, Sanjay Narayan, and Moneen Nasmith.
