Chicago & Midwest + Downtown + Healthcare | June 29, 2021

Ventas to Acquire New Senior for $2.3B

Chicago-based Ventas, Inc. and New York City-based New Senior Investment Group Inc. have entered into a definitive merger agreement in which Ventas will acquire New Senior. The all-stock transaction is valued at approximately $2.3 billion, including $1.5 billion of New Senior debt.

New Senior’s portfolio runs to 103 private-pay senior living communities, including 102 independent living communities, totaling 12,404 units and located across 36 states.

“Building on the strong momentum we are experiencing in our business, we are delighted to announce this strategic and accretive acquisition with New Senior that expands Ventas’s position in senior housing at an important inflection point in the cycle as the senior housing industry rebounds,” said Debra A. Cafaro, Ventas chairman and CEO.

The acquisition is expected to increase Ventas’ total senior housing portfolio concentration from 44% to 48% of first-quarter 2021 annualized adjusted NOI. It’s expected to close in 2021’s second half.

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Ventas' Cafaro

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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