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Ventas Stock Up After Ardent Health Deal with Zell

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]