Ventas (VTR) has entered into agreements with Kindred Healthcare, LLC and its parent companies concerning 23 long-term acute care hospitals. These hospitals are currently under a Master Lease with Ventas, set to expire on April 30, 2025. Starting May 1, 2025, the initial annualized cash contractual base rent for these LTACs will be $80 million. Kindred has committed to paying the full contractual cash rent through April 2025 for these properties.
Additionally, Ventas has acquired the real estate and related properties of five well-performing LTAC assets for a total purchase price of $189 million. Kindred will continue operating these assets.
