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Senior Housing Financing Program

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Program Types
  • Alzheimer's
  • Assisted Living
  • Congregate Care
  • Continuing Care Retirement Communities
  • Independent Living
  • Senior Apartments
Funding Amount
Ventas will purchase a facility for up to 100% of its appraised real estate value (subject to minimum rent coverage).
Lease Terms
10 to 25 years on a "triple net" basis, with multiple renewal options at market.
Preferred Transaction Parameters
  • Lessee with significant experience in property type and local market
  • New real estate with 80 units or more
  • Continuum of care which provides the ability to "age in place"
  • Located in urban or suburban markets with barriers to entry
  • Multi-facility transaction with opportunity for repeat business
  • Facilities at or near stabilization with good occupancy trends and leasing histories
  • Multi-facility transaction in the $25 - $75 million range preferred; no maximum transaction limitation
Cap Rates/EBITDA Multiples
Call to discuss current market cap rates.
Lease Rates
Ventas's program uses a two-part rate structure comprised of (1) a base lease rate, and (2) annual market based escalators. Call to learn more about Ventas current lease rates.
Guarantee
Ventas generally requests a guarantee from a creditworthy entity and an annually renewed letter of credit as a security for the lease.
Timeframe
Typically from 45 to 60 days, from beginning of due diligence to closing based on complexity.
Closing Costs
As with conventional financing sources, the tenant typically pays all due diligence and closing costs.