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Ventas Stock Up After Ardent Health Deal with Zell


Shares in Ventas stock were trading higher this morning after yesterday's announcement the REIT sold a majority share in Ardent Health Services to Sam Zell's Equity Group Investments. Ventas bought Ardent for $1.75B in April and will still retain a 9.9% stake in its operations while retaining the real estate. Yahoo reports Ventas and Ardent management will enter into long-term, triple-net leases with initial annual base rent of $105M once the deal is finalized later in the quarter. The agreement values Ardent at $475M. [Yahoo]