Ventas, Inc. has recently finalized agreements with both Kindred Healthcare and its parent company, ScionHealth. These agreements pertain to the 23 long-term acute care hospitals whose lease is set to expire on April 30, 2025.
Starting May 1, 2025, the annual base rent for these facilities will be $80 million and will increase by a rate of 2.75% each year until the extended lease maturity date of April 30th,2030. As part of this agreement, Kindred has committed to paying full contractual cash rent through April of that year.
In addition to these agreements,Ventas also acquired five performing long-term acute care assets from Kindred for a total purchase price of $189 million.This real estate and related property will continue to be operated by Kindred under an existing Master Lease agreement with Ventas for an initial term of ten years.
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