First-quarter results were a mixed bag for Ventas.
The Chicago-based real estate investment trust saw new investments in several sectors pay off. But the firm’s senior living portfolio harmed the bottom line. The company blamed the downturn on deteriorating fundamentals.
In all, the firm posted revenue of $942.9 million in the period.
“We achieved solid property-level growth from our high-quality real estate, with our expanding university-based research and innovation portfolio going from strength to strength as we invest in this dynamic business. And with excellent capital markets execution, we further enhanced our robust balance sheet,” CEO Debra A. Cafaro said.
The Ventas portfolio contains approximately 1,200 assets in the United States, Canada and the United Kingdom. This consists mostly of seniors housing communities, medical office buildings, university-based research and innovation centers, inpatient rehabilitation and long-term acute-care facilities, health systems and skilled nursing facilities.
