CHICAGO — Ventas Inc. (NYSE: VTR) has completed the previously announced transition of 76 of its private-pay seniors housing communities to new management under Eclipse Senior Living.
Chicago-based Ventas is one of the largest REITs in the seniors housing space. Eclipse Senior Living is a newly formed operator helmed by former Holiday Retirement and HCP executive Kai Hsiao.
Concurrent with the transition, Ventas completed an investment in Eclipse giving the REIT a 34 percent ownership stake in the Eclipse.
Elmcroft Senior Living previously operated the 76 communities. Eclipse kept most front-line staff in place as well as the Elmcroft branding on the properties.