Ventas slashes rents 45% on senior housing operator

Senior housing and medical office REIT Ventas has renegotiated leases for a firm that operates 121 of its senior living facilities across the country. Ventas CEO Debra Cafaro said the agreement with Brookdale Senior Living addresses the financial toll the coronavirus pandemic has taken on those communities. Under the agreement, Brookdale’s annual combined rent dropped to $100 million from $182 million a year, according to company filings. But the deal does not come cheap for

source https://therealdeal.com/2020/07/27/ventas-slashes-rents-45-on-senior-housing-operator/