Ventas Transitions 26 Independent Living Communities to New Operators

by Jeff Shaw

CHICAGO — Ventas (NYSE: VTR), a Chicago-based REIT, has named three new operators for a portfolio of independent living communities in Texas, Florida and California.

Sodalis Senior Living will take over management of 13 communities in Texas, while Priority Life Care will operate eight properties in Florida and Discovery Senior Living will operate five in California.

Ventas “is expanding its successful existing relationships with the three managers to increase occupancy and performance in these communities,” the company said in a press release.

The communities will be operated under management contracts. The transition of these communities, which currently operate under management agreements with Holiday by Atria, was previously announced by Ventas. Atria has agreed to facilitate an orderly transition to the new operators, which is currently underway.

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