CHICAGO-Public REIT Ventas Inc. announced this morning that it will acquire private REIT Lillibridge Healthcare Services Inc., with ownership interest in about 95 medical office buildings, for between $300 million and $400 million. Both trusts are based here.

Ventas is one of the largest health care trusts, with more than 500 properties in 43 states and two Canadian provinces. The trust’s business model trends more toward senior housing and skilled nursing facilities, with medical offices being only 5% of the sites owned. This purchase adds much-needed property diversification to Ventas, resulting in the trust managing or owning 154 medical offices with 8.4 million square feet in 20 states and Washington, DC. Lillibridge also is gaining in the deal, says CEO Todd Lillibridge.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.