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Ventas Inc. (
- Analyst Report
, a healthcare real estate investment trust (REIT), through its subsidiary, recently purchased an outpatient facility and wellness center, Rex Healthcare campus in Knightdale for $24.76 million, according to a Business Journal report. The property spans over 93,000-square-foot and is located at 6602 Knightdale Boulevard.
The purchase was made from a joint venture of NexCore Properties of Denver, Colorado, and Heitman Capital Management of Chicago. Notably, the outpatient facility was developed by NexCore in 2008 for Rex. In 2010, a part of its ownership in that property was vended to Heitman for $13.6 million.
Further, NexCore and Rex joined hands to put up the adjacent hospital-affiliated Wellness Center spanning 32,000-square-foot in Knightdale. In addition to buying the property, Ventas inherited the 75-year land lease agreement of NexCore with Rex, which continues to own the site spanning 7.7 acres.
Ventas, primarily engaged in the business of financing, owning and leasing healthcare related and senior housing facilities, boasts one of the largest and most diversified portfolios in the healthcare sector with exposure to all types of facilities.
The product diversity of the company allows it to capitalize on opportunities in different markets based on individual market dynamics, and provides a hard-to-replicate competitive advantage over its peers. This recent acquisition creates prospects for additional revenue generation.
Recently, Ventas inked a deal with Atria Senior Living Inc., through which Ventas and the management team of Atria gained 100% ownership of Atria. The company also disclosed that it accomplished new investments worth $950 million during the fourth quarter. Such strategic investments augur well going forward.
Ventas currently retains a Zacks #2 Rank, which translates into a short-term Buy rating. Considering the recent positive developments on the acquisitions front and investments, the stock might experience an upward revision of estimates, which, in turn, will help it achieve a better Zacks Rank. One of its competitors, HCP, Inc. ( HCP - Analyst Report ) , currently retains a Zacks #3 Rank, which translates into a short-term Hold rating.
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