HEALTHCARE INFLUENCER: Ventas

Longtime chairman and CEO Debra A. Cafaro is credited spearheading much of Ventas’ success.

Toward the end of the third quarter, Ventas announced that it had acquired an independent living seniors housing community located in downtown New York City’s Battery Park neighborhood for $194 million. This was not the REIT’s only acquisition for the quarter by any means, but this deal stood out because, as it said in its earnings report, “it establishes Ventas’ leadership in the high-end Manhattan market.” Other deals during the quarter: it purchased a $21 million medical office building fully leased to Ardent Health Services and located on-campus of an existing Ventas-owned Ardent hospital and it purchased four on-campus medical office buildings for $79 million from developer Pacific Medical Buildings with a fifth MOB currently under contract.

It also extended for a 10-year term its exclusive MOB development relationship with PMB—a move that suggests the healthcare REIT will be doubling down on MOB in the coming months.