CHICAGO--(BUSINESS WIRE)--Sep. 10, 2014--
Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) said today that it
has been named a global sector leader by the Global Real Estate
Sustainability Benchmark (GRESB) for improving the energy efficiency of
its seniors housing and medical office building portfolios, while
reducing operating costs. GRESB, a global benchmark that assesses the
sustainability performance of real estate portfolios, awarded Ventas its
designation in the “Other” property peer group.
“With our commitment to sustainability and a high-quality, productive
asset base, we have achieved major gains in the operating efficiency of
our portfolio over the past two years. Sustainability is a key corporate
value at Ventas and is important to our shareholders and our tenants;
sustainability is good business,” Ventas Chairman and Chief Executive
Officer Debra A. Cafaro said. “Our excellent GRESB ranking is the result
of tremendous hard work and skill from our dedicated Ventas team, and I
am very proud of our accomplishment.”
In assessing Ventas’s performance, GRESB gave the Company a total score
of 74 compared with the global average of 47 and a North American
average of 44. Ventas was also designated a Green Star company for its
strong showing on important environmental measures. Ventas is one of
only 227 Green Stars globally and one of 49 in North America.
“The impact of sustainability has been significant to Ventas’s bottom
line,” Ventas Senior Vice President Timothy A. Doman said. “With $3.82
million invested in 101 projects in 2013, we expect to have annual
reductions of 6.1 million kWh of electricity consumption, which
translates into $744,000 on electricity spending, and 98 million gallons
of water consumption equal to $323,000 of spending. We are excited about
future benefits to our company and our tenants from our continued
commitment to sustainability and our green portfolio.”
Ventas, Inc., an S&P 500 company, is a leading real estate investment
trust. Its diverse portfolio of more than 1,500 assets in the United
States, Canada and the United Kingdom consists of seniors housing
communities, medical office buildings, skilled nursing facilities,
hospitals 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’,
borrowers’ or managers’ expected future financial condition, results of
operations, cash flows, funds from operations, dividends and dividend
plans, financing opportunities and plans, capital markets transactions,
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. These forward-looking statements are inherently
uncertain, and actual results may differ from the Company’s expectations.
The Company does not undertake a duty to update these 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
from expectations 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 satisfy 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 and investments,
including the Company’s pending acquisition of American Realty Capital
Healthcare Trust, Inc. and investments 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 or delay in payment
by the United States of its obligations, and changes in the federal or
state budgets resulting in the reduction or nonpayment of Medicare or
Medicaid reimbursement rates; (e) the nature and extent of future
competition, including new construction in the markets in which the
Company’s seniors housing communities and medical office buildings
(“MOBs”) are located; (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 borrowing costs as a result of changes in interest rates and
other factors; (h) the ability of the Company’s operators and managers,
as applicable, to comply with laws, rules and regulations in the
operation of the Company’s properties, to deliver high-quality services,
to attract and retain qualified personnel and to attract residents and
patients; (i) changes in general economic conditions 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,
earnings and funding sources; (j) the Company’s ability to pay down,
refinance, restructure or extend its indebtedness as it becomes due; (k)
the Company’s ability and willingness to maintain its qualification as a
REIT in light of economic, market, legal, tax and other considerations;
(l) final determination of the Company’s taxable net income for the year
ended December 31, 2013 and for the year ending December 31, 2014; (m)
the ability and willingness of the Company’s tenants to renew their
leases with the Company upon expiration of the leases, the Company’s
ability to reposition its properties on the same or better terms in the
event of nonrenewal or in the event the Company exercises its right to
replace an existing tenant or manager, and obligations, including
indemnification obligations, the Company may incur in connection with
the replacement of an existing tenant or manager; (n) risks associated
with the Company’s senior living operating portfolio, such as factors
that can cause volatility in the Company’s operating income and earnings
generated by those properties, including without limitation national and
regional economic conditions, costs of food, 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) changes in
exchange rates for any foreign currency in which the Company may, from
time to time, conduct business; (p) year-over-year changes in the
Consumer Price Index or the UK Retail Price Index and the effect of
those changes on the rent escalators contained in the Company’s leases
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 property, liability and other insurance from reputable,
financially stable providers; (r) the impact of increased operating
costs and uninsured professional liability claims on the Company’s
liquidity, financial condition and results of operations or that of the
Company’s tenants, operators, borrowers and managers, and the ability of
the Company and 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
the Company’s 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
build, maintain and expand its relationships with existing and
prospective 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; (x) merger and
acquisition activity in the seniors housing and healthcare industries
resulting in a change of control of, or a competitor’s investment in,
one or more of the Company’s tenants, operators, borrowers or managers
or significant changes in the senior management of the Company’s
tenants, operators, borrowers or managers; (y) the impact of litigation
or any financial, accounting, legal or regulatory issues that may affect
the Company or its tenants, operators, borrowers or managers; (z)
changes in accounting principles, or their application or
interpretation, and the Company’s ability to make estimates and the
assumptions underlying the estimates, which could have an effect on the
Company’s earnings; and (aa) the impact of expenses related to the
re-audit and re-review of the Company’s historical financial statements
and related matters. Many of these factors are beyond the control of the
Company and its management.
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Source: Ventas, Inc.
Ventas, Inc.
Lori B. Wittman, (877) 4-VENTAS