Ventas to Acquire Ardent Health Services for $1.75B, Spin Off Skilled Nursing Portfolio

CHICAGO — Ventas Inc. (NYSE: VTR), a seniors housing and healthcare REIT, has signed a definitive agreement to acquire Ardent Medical Services Inc. for $1.75 billion in cash. Ardent Medical, a subsidiary of Nashville-based Ardent Health Services, is one of the 10 largest for-profit hospital firms in the United States. The privately owned Ardent Medical will be entitled to distribute up to $75 million in excess cash to its existing shareholders as part of the transaction.

KeyBank Arranges $26.7M Loans for Texas Long-Term Care Portfolio

COPPERAS COVE, HARKER HEIGHTS and KILLEEN, TEXAS — KeyBank Real Estate Capital has arranged a total of $26.7 million in FHA financing for a three-property, long-term care portfolio in Texas. Two of the properties are skilled nursing facilities and one is a combination skilled nursing and assisted living facility.

IPA Brokers Sale of Skilled Nursing Facility for $18M

LAKEWOOD, Colo. — Institutional Property Advisors (IPA), a division of Marcus & Millichap Inc. specializing in serving institutional and private real estate investors, has brokered the sale of Bethany Rehabilitation Center, a skilled nursing and short-term rehabilitation facility in Lakewood. The $17.95 million sales price equates to $105,600 per licensed bed

Lancaster Pollard Refinances $28.5M for Two Mass. Facilities

Lancaster Pollard has refinanced $23.2 million fixed-rate, taxable notes insured by the FHA Sec. 232/233(f) Program and a $5.3 million bridge-to-agency loan, provided by the firm, for two properties: Marina Bay, a 167-bed skilled nursing facility in Quincy, Mass., and West Acres, a 138-bed skilled nursing facility in Brockton, Mass.

AdCare Health Systems Leases Two Facilities in Georgia; Continues Move Away from Owner/Operator Model

ATLANTA — AdCare Health Systems, Inc. (NYSE MKT: ADK), (NYSE MKT: ADK.PRA), a long-term care provider, has leased two Georgia skilled nursing facilities as part of its ongoing strategic plan to transition from an owner and operator of healthcare facilities to a healthcare property holding and leasing company. The agreement is with affiliates of C-Ross Management, an operator of long-term care facilities.

Satterfield & Pontikes to Construct Skilled Nursing Facility in Metro Houston

KATY, Texas — Satterfield & Pontikes Construction has been selected by Medistar Corporation to construct an 80-bed skilled nursing facility at Katy Fort Bend Road and Colonial Parkway in far west Harris County. Work on the 60,000-square-foot building is scheduled to begin early this year. Construction is expected to take approximately 11 months.

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