Ventas declined comment on the matter when contacted byGlobeSt.com, with a spokesman citing the pending litigation for thesilence. HCPI CFO Mark Wallace did not respond to calls by pressdeadline. Reportedly seeking $100 million in civil damages, Ventasalleges "tortious interference with contract and tortiousinterference with prospective business advantage" in trying toacquire Toronto-based Sunrise Real Estate Investment Trust. Thelawsuit was filed with the US District Court in westernKentucky.

In court documents, both parties vowed to "vigorously defend"their sides, with Ventas arguing that HCPI forced it to pay ahigher price to purchase Sunrise than initially planned. Thecompany did ultimately pay about C$1.50 per share more to close thesale following an unsolicited offer from HCPI that offered a C$3premium per share. Originally set to pay $1.8 billion, Ventassealed thedeal last week for $2.2 billion. At the time Debra Cafaro,Ventas chairman, president and CEO, said "The acquisition ofSunrise REIT, with its 77 high quality private pay senior housingcommunities, is a major milestone for Ventas and we are pleased tohave successfully completed the transaction."

Ventas has already won several rounds in the Ontario courtsystem, prevailing on issuance of a "standstill agreement" thatordered HCP to cease its pursuit of Sunrise. The package isconsidered valuable to the two firms, according to analysts,because it provides a foray into the expanding seniors housingmarket in Canada, where 11 of the 77 properties are located. TheREIT now owns 532 senior living facilities in North America and hasa bed count of more than 50,000.