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Ventas Completes $2.3B Deal for New Senior Investment Corp.
Chicago-based Ventas completed its acquisition of New Senior Investment Corp. in an all-stock transaction valued at approximately $2.3 billion, including the assumption of debt. New Senior has a geographically diversified portfolio of 103 private-pay senior living communities totaling 12,404 units and located across 36 states.
“The acquisition of the New Senior portfolio positions Ventas to capture the powerful senior housing upside at a cyclical inflection point, adds a high-quality independent living portfolio in advantaged markets with positive supply and demand fundamentals, and builds on existing relationships with leading operators and our deep experience in independent living at an attractive valuation that is accretive to Ventas,” said Debra A. Cafaro, Ventas chairman and CEO. “I commend Susan Givens and her excellent team for their professionalism and accomplishments.”
Following the acquisition’s close, New Senior shares will be no longer be traded on the New York Stock Exchange.
- ◦Sale/Acquisition
