Ventas Completes Management Transition of 76-Property Portfolio from Elmcroft to Eclipse

by Jeff Shaw

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.

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