We advised Ventas on the SEC-registered public offering

Davis Polk advised Ventas, Inc. in connection with the execution of a forward sale agreement relating to an aggregate of 10,600,000 shares of its common stock. In connection with the forward sale agreement, the forward purchaser (or its affiliate) borrowed an aggregate of 10,600,000 shares of Ventas’s common stock from third parties for sale in an SEC-registered public offering. Ventas will receive net proceeds of approximately $675.3 million, before offering expenses and subject to certain adjustments, upon physical settlement of the forward sale agreement.

Ventas is a leading S&P 500 real estate investment trust enabling exceptional environments that benefit a large and growing aging population. With approximately 1,350 properties in North America and the United Kingdom, Ventas occupies an essential role in the longevity economy. Ventas’s growth is fueled by its approximately 800 senior housing communities, which provide valuable services to residents and enable them to thrive in supported environments. The Ventas portfolio also includes outpatient medical buildings, research centers and healthcare facilities.

The Davis Polk corporate team included partner Richard D. Truesdell Jr., counsel Jeffrey S. Ramsay and associates Rachel Jang and Megan P. Phansalkar. The equity derivatives team included partner Mark J. DiFiore and associate Alexander S. Pettingell. The tax team included partners Michael Mollerus, Lucy W. Farr and Aliza Slanksy. Counsel Sarah E. Kim provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

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