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Ventas seeks buyer for $400M seniors housing portfolio

Ventas Inc. is looking to sell in part or in full a portfolio of eight seniors housing properties across six U.S. states worth a total of about $400 million, Real Estate Alert reported.

The healthcare real estate investment trust reportedly tapped Newmark to market the portfolio to value-added investors.

The 1,182-unit portfolio comprises Atria Park of Sierra Pointe at 14500 N. Frank Lloyd Wright Blvd. in Scottsdale, Ariz.; Atria Canyon Creek at 440 Independence Parkway in Plano, Texas; Atria Cinco Ranch at 24001 Cinco Village Blvd. in Katy, Texas; Atria at the Arboretum at 9306 Great Hills Trail in Austin, Texas; Atria Encinitas at 504 S. El Camino Real in Encinitas, Calif.; Atria Marina Place at 4 Seaport Drive in Quincy, Mass.; Atria Weston Place at 2900 Lake Brook Blvd. in Knoxville, Tenn.; and Atria Summit Hills at 2625 Legends Way in Crestview Hills, Ky.

Atria Senior Living Inc. manages the portfolio, although the prospective buyer may partner with a new manager and rebrand any or all of the facilities. The properties have occupancy rates of 70% to 93%, with an 82% weighted average, according to the report.