Senior-living facility owner Ventas Inc. will buy Newport Beach-based Nationwide Health Properties Inc. for $5.8 billion in stock in one of the largest healthcare-related real estate investment trust deals ever.
Ventas' portfolio will double across the country and in Canada to more than 1,300 properties, including senior-housing facilities, medical office buildings, skilled nursing facilities, specialty hospitals and continuing-care retirement communities. The company will own and lease facilities to more than 100 healthcare service providers.
When the deal closes in the third quarter, Ventas will become the largest senior housing owner in the U.S., with headquarters remaining in Chicago, the company said Monday. The deal is valued at $7.4 billion with debt.