CHICAGO, Oct 20, 2011 (BUSINESS WIRE) --
Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") said today that it
will host a New York area property tour of private pay seniors housing
communities managed by Atria Senior Living, Inc. ("Atria") for analysts
and investors on Thursday, October 20, 2011. Prior to the tour, the
Company will webcast a brief presentation that will include an
introduction by Debra A. Cafaro, Chairman and Chief Executive Officer of
Ventas, and remarks by Paul Diaz, President and Chief Executive Officer
of Kindred Healthcare, Inc. (NYSE: KND), in connection with the event.
The presentation, which will begin at 8:00 a.m. Eastern Time, can be
accessed at the Company's website at www.ventasreit.com.
A replay of the webcast will be available on the Company's website
approximately one hour after the presentation concludes and will remain
for 30 days. Any written materials accompanying the presentation will be
posted on the Company's website at or prior to the time of the
presentation.
In connection with the property tour of Atria-managed seniors housing
communities, Ventas announced today preliminary third quarter 2011
occupancy and other information regarding its senior housing operating
assets.
Occupancy Increases
Average resident occupancy for the Company's 79 communities managed by
Sunrise Senior Living, Inc. (NYSE: SRZ) ("Sunrise") increased to 90.6
percent in the third quarter of 2011, a 120 basis point increase from
both the second quarter of 2011 and the third quarter of 2010.
Average unit occupancy for the Company's 117 communities managed by
Atria increased to 87.4 percent, compared to 86.8 percent in June 2011.
Net Operating Income
Third quarter 2011 Net Operating Income after management fees ("NOI")
for each of the Company's seniors housing operating portfolios managed
by Sunrise and Atria is expected to be within the respective ranges of
NOI guidance previously provided by the Company.
All amounts reported herein are preliminary estimates and are subject to
change as the Company completes its quarter-end internal and external
review procedures. As previously disclosed, the Company will release its
third quarter 2011 results prior to the opening of trading on the New
York Stock Exchange on Friday, November 4, 2011. A conference call to
discuss those results will be held the same day at 11:00 a.m. Eastern
Time (10:00 a.m. Central Time).
Ventas, Inc., an S&P 500 company, is a leading healthcare real estate
investment trust. Its diverse portfolio of more than 1,300 assets in 47
states (including the District of Columbia) and two Canadian provinces
consists of seniors housing communities, skilled nursing facilities,
hospitals, medical office buildings and other properties. Through its
Lillibridge subsidiary, Ventas provides management, leasing, marketing,
facility development and advisory services to highly rated hospitals and
health systems throughout the United States. More information about
Ventas and Lillibridge can be found at www.ventasreit.com
and www.lillibridge.com.
This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.All
statements regarding the Company's or its tenants', operators',
managers' or borrowers' expected future financial position, results of
operations, cash flows, funds from operations, dividends and dividend
plans, financing plans, business strategy, budgets, projected costs,
operating metrics, capital expenditures, competitive positions,
acquisitions, investment opportunities, dispositions, merger
integration, growth opportunities, expected lease income, continued
qualification as a real estate investment trust ("REIT"), plans and
objectives of management for future operations and statements that
include words such as "anticipate," "if," "believe," "plan," "estimate,"
"expect," "intend," "may," "could," "should," "will" and other similar
expressions are forward-looking statements.Such forward-looking
statements are inherently uncertain, and security holders must recognize
that actual results may differ from the Company's expectations.The
Company does not undertake a duty to update such forward-looking
statements, which speak only as of the date on which they are made.
The Company's actual future results and trends may differ materially
depending on a variety of factors discussed in the Company's filings
with the Securities and Exchange Commission.These factors
include without limitation: (a) the ability and willingness of the
Company's tenants, operators, borrowers, managers and other third
parties to meet and/or perform their obligations under their respective
contractual arrangements with the Company, including, in some cases,
their obligations to indemnify, defend and hold harmless the Company
from and against various claims, litigation and liabilities; (b) the
ability of the Company's tenants, operators, borrowers and managers to
maintain the financial strength and liquidity necessary to satisfy their
respective obligations and liabilities to third parties, including
without limitation obligations under their existing credit facilities
and other indebtedness; (c) the Company's success in implementing its
business strategy and the Company's ability to identify, underwrite,
finance, consummate and integrate diversifying acquisitions or
investments, including the Nationwide Health Properties, Inc.
transaction and those in different asset types and outside the United
States; (d) macroeconomic conditions such as a disruption of or lack of
access to the capital markets, changes in the debt rating on U.S.
government securities, default and/or delay in payment by the United
States of its obligations, and changes in the federal budget resulting
in the reduction or nonpayment of Medicare or Medicaid reimbursement
rates; (e) the nature and extent of future competition; (f) the extent
of future or pending healthcare reform and regulation, including cost
containment measures and changes in reimbursement policies, procedures
and rates; (g) increases in the Company's cost of borrowing as a result
of changes in interest rates and other factors; (h) the ability of the
Company's operators and managers, as applicable, to deliver high quality
services, to attract and retain qualified personnel and to attract
residents and patients; (i) changes in general economic conditions
and/or economic conditions in the markets in which the Company may, from
time to time, compete, and the effect of those changes on the Company's
revenues and its ability to access the capital markets or other sources
of funds; (j) the Company's ability to pay down, refinance, restructure
and/or extend its indebtedness as it becomes due; (k) the Company's
ability and willingness to maintain its qualification as a REIT due to
economic, market, legal, tax or other considerations; (l) final
determination of the Company's taxable net income for the year ended
December 31, 2010 and for the year ending December 31, 2011; (m) the
ability and willingness of the Company's tenants to renew their leases
with the Company upon expiration of the leases and the Company's ability
to reposition its properties on the same or better terms in the event
such leases expire and are not renewed by the Company's tenants or in
the event the Company exercises its right to replace an existing tenant
upon default; (n) risks associated with the Company's senior living
operating portfolio, such as factors causing volatility in the Company's
operating income and earnings generated by its properties, including
without limitation national and regional economic conditions, costs of
materials, energy, labor and services, employee benefit costs, insurance
costs and professional and general liability claims, and the timely
delivery of accurate property-level financial results for those
properties; (o) the movement of U.S. and Canadian exchange rates; (p)
year-over-year changes in the Consumer Price Index and the effect of
those changes on the rent escalators, including the rent escalator for
Master Lease 2 with Kindred, and the Company's earnings; (q) the
Company's ability and the ability of its tenants, operators, borrowers
and managers to obtain and maintain adequate liability and other
insurance from reputable and financially stable providers; (r) the
impact of increased operating costs and uninsured professional liability
claims on the liquidity, financial condition and results of operations
of the Company's tenants, operators, borrowers and managers, and the
ability of the Company's tenants, operators, borrowers and managers to
accurately estimate the magnitude of those claims; (s) risks associated
with the Company's MOB portfolio and operations, including its ability
to successfully design, develop and manage MOBs, to accurately estimate
its costs in fixed fee-for-service projects and to retain key personnel;
(t) the ability of the hospitals on or near whose campuses the Company's
MOBs are located and their affiliated health systems to remain
competitive and financially viable and to attract physicians and
physician groups; (u) the Company's ability to maintain or expand its
relationships with its existing and future hospital and health system
clients; (v) risks associated with the Company's investments in joint
ventures and unconsolidated entities, including its lack of sole
decision-making authority and its reliance on its joint venture
partners' financial condition; (w) the impact of market or issuer events
on the liquidity or value of the Company's investments in marketable
securities; and (x) the impact of any financial, accounting, legal or
regulatory issues or litigation that may affect the Company or its major
tenants, operators or managers.Many of these factors are beyond
the control of the Company and its management.
SOURCE: Ventas, Inc.
for Ventas, Inc.
David J. Smith, 877-4-VENTAS