On Monday, Ventas, Inc. announced it will acquire American Realty Capital Healthcare Trust Inc. for $2.6 billion in cash and stock. The deal secures Ventas’ position as the largest healthcare real estate investment trust in the country. ARC shareholders have the option of receiving 0.16 Ventas shares or $11.33 for each share of ARC common stock they currently own. Once the transaction closes later this year, ARC shareholders will own approximately 8% of Ventas’ common stock. The acquisition adds 143 medical properties and more than $250 million in potential developments to Ventas’ portfolio.
Venable partners Sharon Kroupa
and Christopher Pate
and associate Brian Field
served as Maryland counsel to ARC Healthcare.
News of the deal was featured in multiple publications including the New York Times
, Wall Street Journal
, and StreetInsider
on June 2, 2014 and Commercial Property Executive
on June 3, 2014.