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Ventas Reaches Agreements with Kindred, ScionHealth
Ventas, Inc. has entered into agreements with Kindred Healthcare and its parent company, ScionHealth, regarding the 23 long-term acute care hospitals whose lease term is scheduled to mature on April 30, 2025.
The initial annualized cash contractual base rent for the long-term acute care centers will be $80 million starting May 1, 2025, and rent will escalate annually by 2.75% through the extended lease maturity date of April 30, 2030. Kindred has agreed to pay full contractual cash rent through April 2025.
Ventas has also acquired the real estate and related property of five performing long-term acute care assets for a gross purchase price of $189 million. The assets will continue to be operated by Kindred and were added to the existing Kindred Master Lease for an initial 10-year term.
