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Ventas to Webcast Introduction to New York Area Property Tour of Private Pay Seniors Housing Communities Managed by Atria Senio

^{Published on 2011-10-20 03:25:33 - Market Wire}
 

CHICAGO--([ BUSINESS WIRE ])--Ventas, Inc. (NYSE: VTR) (aVentasa or the aCompanya) said today that it will host a New York area property tour of private pay seniors housing communities managed by Atria Senior Living, Inc. (aAtriaa) 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 Companya™s website at [ www.ventasreit.com ].

A replay of the webcast will be available on the Companya™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 Companya™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 Companya™s 79 communities managed by Sunrise Senior Living, Inc. (NYSE: SRZ) (aSunrisea) 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 Companya™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 (aNOIa) for each of the Companya™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 Companya™s or its tenantsa™, operatorsa™, managersa™ or borrowersa™ 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 (aREITa), plans and objectives of management for future operations and statements that include words such as aanticipate,a aif,a abelieve,a aplan,a aestimate,a aexpect,a aintend,a amay,a acould,a ashould,a awilla 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 Companya™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 Companya™s actual future results and trends may differ materially depending on a variety of factors discussed in the Companya™s filings with the Securities and Exchange Commission.These factors include without limitation: (a) the ability and willingness of the Companya™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 Companya™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 Companya™s success in implementing its business strategy and the Companya™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 Companya™s cost of borrowing as a result of changes in interest rates and other factors; (h) the ability of the Companya™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 Companya™s revenues and its ability to access the capital markets or other sources of funds; (j) the Companya™s ability to pay down, refinance, restructure and/or extend its indebtedness as it becomes due; (k) the Companya™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 Companya™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 Companya™s tenants to renew their leases with the Company upon expiration of the leases and the Companya™s ability to reposition its properties on the same or better terms in the event such leases expire and are not renewed by the Companya™s tenants or in the event the Company exercises its right to replace an existing tenant upon default; (n) risks associated with the Companya™s senior living operating portfolio, such as factors causing volatility in the Companya™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 Companya™s earnings; (q) the Companya™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 Companya™s tenants, operators, borrowers and managers, and the ability of the Companya™s tenants, operators, borrowers and managers to accurately estimate the magnitude of those claims; (s) risks associated with the Companya™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 Companya™s MOBs are located and their affiliated health systems to remain competitive and financially viable and to attract physicians and physician groups; (u) the Companya™s ability to maintain or expand its relationships with its existing and future hospital and health system clients; (v) risks associated with the Companya™s investments in joint ventures and unconsolidated entities, including its lack of sole decision-making authority and its reliance on its joint venture partnersa™ financial condition; (w) the impact of market or issuer events on the liquidity or value of the Companya™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.