Ventas Sells 12 Communities to Assisted Living Concepts for $100M
Ventas, Inc. (NYSE: VTR) announced today that it has sold twelve seniors housing communities to Assisted Living Concepts, Inc. (NYSE: ALC) for a total of $100 million in cash. Prior to the sale, ALC was the tenant of the communities. At closing, the leases were terminated, Ventas no longer owns any assets that ALC operates, and the parties agreed to dismiss their pending litigation in the U.S. District Court for the Northern District of Illinois.
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