Ventas Acquires Full Control of Senior Housing JV

Ticker: VTR · Form: 8-K · Filed: 2024-09-19T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, real estate, joint venture

TL;DR

Ventas just bought out Nuveen's stake in their senior housing JV, now owns 100%.

AI Summary

On September 18, 2024, Ventas, Inc. filed an 8-K report detailing the completion of its acquisition of the remaining 49% interest in its joint venture with Nuveen Real Estate, which was previously held by Nuveen. This transaction effectively consolidates full ownership of the joint venture's portfolio, primarily consisting of senior housing properties, under Ventas.

Why It Matters

This move consolidates Ventas's ownership of a significant senior housing portfolio, potentially leading to greater operational efficiencies and strategic flexibility.

Risk Assessment

Risk Level: low — The filing reports on a completed transaction, indicating no new or immediate risks are being introduced.

Key Numbers

49% — Acquired Interest (Ventas acquired the remaining 49% interest in its joint venture with Nuveen Real Estate.)

Key Players & Entities

Ventas, Inc. (company) — Registrant
Nuveen Real Estate (company) — Joint Venture Partner
September 18, 2024 (date) — Date of Report

FAQ

What was the primary asset of the joint venture?

The joint venture's portfolio primarily consisted of senior housing properties.

What is Ventas, Inc.'s jurisdiction of incorporation?

Ventas, Inc. is incorporated in Delaware.

What is Ventas's principal executive office address?

Ventas's principal executive offices are located at 353 N. Clark Street, Suite 3300, Chicago, Illinois 60654.

What is the filing date of this 8-K report?

The filing date of this 8-K report is September 19, 2024, with the earliest event reported on September 18, 2024.

What was the previous ownership structure of the joint venture?

Previously, Ventas, Inc. held 51% of the joint venture, and Nuveen Real Estate held the remaining 49%.

From the Filing

0001104659-24-101116.txt : 20240919 0001104659-24-101116.hdr.sgml : 20240919 20240918215356 ACCESSION NUMBER: 0001104659-24-101116 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240918 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240919 DATE AS OF CHANGE: 20240918 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ventas, Inc. CENTRAL INDEX KEY: 0000740260 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 611055020 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10989 FILM NUMBER: 241308711 BUSINESS ADDRESS: STREET 1: 353 N. CLARK STREET STREET 2: SUITE 3300 CITY: CHICAGO STATE: IL ZIP: 60654 BUSINESS PHONE: 3126603800 MAIL ADDRESS: STREET 1: 353 N. CLARK STREET STREET 2: SUITE 3300 CITY: CHICAGO STATE: IL ZIP: 60654 FORMER COMPANY: FORMER CONFORMED NAME: VENTAS INC DATE OF NAME CHANGE: 19980507 8-K 1 tm2424000d2_8k.htm FORM 8-K false 0000740260 0000740260 2024-09-18 2024-09-18 iso4217:USD xbrli:shares iso4217:USD xbrli:shares     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549       FORM  8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of Earliest Event Reported):  September 18, 2024   Ventas, Inc. (Exact Name of Registrant as Specified in Its Charter)   Delaware   001-10989   61-1055020 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   353 N. Clark Street , Suite 3300 , Chicago , Illinois   60654 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: ( 877 ) 483-6827   Not applicable Former Name or Former Address, if Changed Since Last Report   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:   ¨   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ¨   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ¨   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ¨   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common stock, $0.25 par value   VTR   New York Stock Exchange   Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company ¨   If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨           Item 8.01. Other Events.   On September 18, 2024, Ventas, Inc. (the “Company”) entered into an ATM Sales Agreement (the “Sales Agreement”), with BofA Securities, Inc., BBVA Securities Inc., BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc., Credit Agricole Securities (USA) In