SALE TO VENTAS WILL PROVIDE GROWTH CAPITAL
By John Mugford
The pending $300 million to $400 million sale of Lillibridge Healthcare Services Inc. and its vast medical office building (MOB) portfolio to publicly traded Ventas Inc. (NYSE: VTR) made quite a splash in various news outlets in the days following the big announcement.
Should the sale close in the third quarter (Q3) as planned, Ventas, which has concentrated on the seniors housing market over the years, could add a total of 95 MOBs with 5.7 million square feet of space to its portfolio. The deal would grow the country’s eighth largest real estate investment trust’s (REIT) MOB holdings by 500 percent.
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