Ventas Acquires High-Quality Life Science, Research and Medical Campus, Adding New Relationships with Leading Research Universities and Academic Medical Centers

Acquisition Includes Historic Renovation at South Street Landing, 100
Percent Leased to Brown University and the Nursing Education Center

CHICAGO–(BUSINESS WIRE)–$VTR–Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) announced today
that it has purchased a high-quality life science, research and medical
campus in Providence, Rhode Island (the “Providence acquisition”) from
affiliates of Blackstone Real Estate Partners VIII L.P. The principal
assets of the acquisition are a 269,000 square foot historic renovation
of South Street Landing (“SSL”), a building that will be used for
academic administration and educational purposes, and an adjacent newly
constructed garage, which were purchased for nearly $130 million. SSL is
100 percent leased to Brown University for academic administrative
offices and the Nursing Education Center, an initiative between Rhode
Island College and University of Rhode Island’s nursing programs.


The stunning redevelopment, located on the waterfront of the Providence
River, is nearly complete and is expected to be fully occupied by late
2017. It includes advanced medical teaching labs and simulation
facilities and enjoys close proximity to Brown University’s Warren
Alpert Medical School and award-winning hospitals.

The Providence acquisition also includes adjacent sites targeted for
development and redevelopment to support the demand from universities
and research companies at the campus for life science, medical and
innovation purposes. The purchase price for these additional
redevelopment and development sites was $21 million. Wexford Science +
Technology LLC, the nation’s leading university-focused developer,
intends to separately develop a 174-unit student housing residence on
the campus for graduate, medical and upper-level nursing students.

“The Providence acquisition adds newly developed, state-of-the-art
facilities to Ventas’s high-quality life science, medical and innovation
center portfolio, expands the Company’s relationships with leading
research universities and provides significant opportunities for future
growth,” said Ventas Executive Vice President and Chief Investment
Officer John Cobb. “With our leading platform in Wexford, we are the
premier capital provider for university-based research and medical
facilities. We are delighted to support top tier universities like Brown
as they drive their research, medical and innovation agendas.”

“We are excited that a firm with Ventas’s vision and reputation is
investing in an important project that advances the education,
infrastructure and workforce development goals of Brown, the city of
Providence and the state of Rhode Island,” said Brown University
President Christina Paxson. “Brown’s approach has been — and will
continue to be — to encourage and participate in public-private
partnerships that stimulate economic expansion, incubate innovation and
bring stakeholders together.”

With the addition of the Providence campus, Ventas has completed or
committed to over $350 million of follow-on acquisitions and development
projects in its attractive university-centered life science, medical and
innovation center portfolio.

Ventas expects the investment to be accretive to 2017 normalized funds
from operations (“FFO”) per share. The impact of the transaction is
already reflected in the Company’s 2017 normalized FFO per share
guidance range issued in its February 10, 2017 press release. Ventas
funded the transaction using cash on hand and other capital sources.

Ventas, Inc., an S&P 500 company, is a leading real estate investment
trust. Its diverse portfolio of approximately 1,300 assets in the United
States, Canada and the United Kingdom consists of seniors housing
communities, medical office buildings, life science and innovation
centers, skilled nursing facilities, specialty hospitals and general
acute care hospitals. 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.

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 Company’s or its tenants’, operators’,
borrowers’ or managers’ expected future financial condition, results of
operations, cash flows, funds from operations, dividends and dividend
plans, financing opportunities and plans, capital markets transactions,
business strategy, budgets, projected costs, operating metrics, capital
expenditures, competitive positions, acquisitions, investment
opportunities, dispositions, merger or acquisition integration, growth
opportunities, expected lease income, continued qualification as a real
estate investment trust (“REIT”), plans and objectives of management for
future operations and statements that include words such as
“anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,”
“may,” “could,” “should,” “will” and other similar expressions are
forward-looking statements. These forward-looking statements are
inherently uncertain, and actual results may differ from the Company’s
expectations. The Company does not undertake a duty to update these
forward-looking statements, which speak only as of the date on which
they are made.

The Company’s actual future results and trends may differ materially
from expectations depending on a variety of factors discussed in the
Company’s filings with the Securities and Exchange Commission. These
factors include without limitation: (a) the ability and willingness of
the Company’s tenants, operators, borrowers, managers and other third
parties to satisfy 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 Company’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 Company’s success in implementing its business
strategy and the Company’s ability to identify, underwrite, finance,
consummate and integrate diversifying acquisitions and investments; (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 or delay in payment by the United States of its
obligations, and changes in the federal or state budgets resulting in
the reduction or nonpayment of Medicare or Medicaid reimbursement rates;
(e) the nature and extent of future competition, including new
construction in the markets in which the Company’s seniors housing
communities and medical office buildings (“MOBs”) are located; (f) the
extent and effect of future or pending healthcare reform and regulation,
including cost containment measures and changes in reimbursement
policies, procedures and rates; (g) increases in the Company’s borrowing
costs as a result of changes in interest rates and other factors; (h)
the ability of the Company’s tenants, operators and managers, as
applicable, to comply with laws, rules and regulations in the operation
of the Company’s properties, to deliver high-quality services, to
attract and retain qualified personnel and to attract residents
and patients; (i) changes in general economic conditions or economic
conditions in the markets in which the Company may, from time to time,
compete, and the effect of those changes on the Company’s revenues,
earnings and funding sources; (j) the Company’s ability to pay down,
refinance, restructure or extend its indebtedness as it becomes due; (k)
the Company’s ability and willingness to maintain its qualification as a
REIT in light of economic, market, legal, tax and other considerations;
(l) final determination of the Company’s taxable net income for the year
ended December 31, 2016 and for the year ending December 31, 2017; (m)
the ability and willingness of the Company’s tenants to renew their
leases with the Company upon expiration of the leases, the Company’s
ability to reposition its properties on the same or better terms in the
event of nonrenewal or in the event the Company exercises its right to
replace an existing tenant, and obligations, including indemnification
obligations, the Company may incur in connection with the replacement of
an existing tenant; (n) risks associated with the Company’s senior
living operating portfolio, such as factors that can cause volatility in
the Company’s operating income and earnings generated by those
properties, including without limitation national and regional economic
conditions, costs of food, 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) changes in exchange rates
for any foreign currency in which the Company may, from time to time,
conduct business; (p) year-over-year changes in the Consumer Price Index
or the UK Retail Price Index and the effect of those changes on the rent
escalators contained in the Company’s leases and the Company’s earnings;
(q) the Company’s ability and the ability of its tenants, operators,
borrowers and managers to obtain and maintain adequate property,
liability and other insurance from reputable, financially stable
providers; (r) the impact of increased operating costs and uninsured
professional liability claims on the Company’s liquidity, financial
condition and results of operations or that of the Company’s tenants,
operators, borrowers and managers, and the ability of the Company and
the Company’s tenants, operators, borrowers and managers to accurately
estimate the magnitude of those claims; (s) risks associated with the
Company’s MOB portfolio and operations, including the Company’s ability
to successfully design, develop and manage MOBs and to retain key
personnel; (t) the ability of the hospitals on or near whose campuses
the Company’s MOBs are located and their affiliated health systems to
remain competitive and financially viable and to attract physicians and
physician groups; (u) risks associated with the Company’s investments in
joint ventures and unconsolidated entities, including its lack of sole
decision-making authority and its reliance on its joint venture
partners’ financial condition; (v) the Company’s ability to obtain the
financial results expected from its development and redevelopment
projects; (w) the impact of market or issuer events on the liquidity or
value of the Company’s investments in marketable securities; (x)
consolidation activity in the seniors housing and healthcare industries
resulting in a change of control of, or a competitor’s investment in,
one or more of the Company’s tenants, operators, borrowers or managers
or significant changes in the senior management of the Company’s
tenants, operators, borrowers or managers; (y) the impact of litigation
or any financial, accounting, legal or regulatory issues that may affect
the Company or its tenants, operators, borrowers or managers; and (z)
changes in accounting principles, or their application or
interpretation, and the Company’s ability to make estimates and the
assumptions underlying the estimates, which could have an effect on the
Company’s earnings.

The Company routinely announces material information to investors and
the marketplace using press releases, SEC filings, public conference
calls, webcasts and the Company’s website at www.ventasreit.com/investor-relations.
The information that the Company posts to its website may be deemed to
be material. Accordingly, the Company encourages investors and others
interested in the Company to routinely monitor and review the
information that the Company posts on its website, in addition to
following the Company’s press releases, SEC filings and public
conference calls and webcasts. You may automatically receive e-mail
alerts and other information about the Company when you enroll your
e-mail address by visiting the “Sign up to Receive Email Updates”
section of the Company’s website at www.ventasreit.com/investor-relations.

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Contacts

Ventas, Inc.
Ryan K. Shannon
(877) 4-VENTAS