Ventas CEO Debra Cafaro said the company will reap the benefits of spinning off its skilled nursing assets into a separate REIT. Cafaro announced in April that Ventas would move 355 skilled nursing facilities into a new REIT, Care Capital Properties. This would allow Care Capital to be a pure-play, skilled nursing REIT focused on local and regional care providers, according to REIT.com. Ventas, meanwhile, would see faster internal growth with 83% private pay and 83% of its NOI coming from the nation’s top 20 operators. Cafaro made her remarks at the NAREIT’s REITWeek 2015 investor forum in New York. [REIT.com]
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