On December 27, it was announced that Willkie client Ventas, Inc., the leading healthcare real estate investment trust (REIT) in the United States, has signed a definitive agreement to acquire Cogdell Spencer Inc. and its 72 high quality medical office buildings for approximately $770 million in cash, including debt.
The strategic acquisition expands Ventas’s medical office building business to over 20 million square feet. Ventas, Inc., an S&P 500 company, has a diverse portfolio of more than 1,300 assets in 47 states and two Canadian provinces, consisting of seniors housing communities, skilled nursing facilities, hospitals, medical office buildings and other properties. Charlotte-based Cogdell Spencer focuses on planning, owning, developing, constructing and managing medical facilities.
The deal was handled by Corporate: partners Steven Seidman and Mark Getachew and associates Sean Ewen, Adeline Park and Ruchi Patel; Real Estate: partner David Drewes and associates Eliot Rishty, Adam Feit and Owen Reidy; Tax: partner Henry Cohn and associate Meredith Levy; Executive Compensation and Employee Benefits: partner Michael Katz and associate Jennifer Long; Intellectual Property: special counsel Kim Walker and associate Amir Ghavi and Environmental: partner E. Donald Elliott and associates Johanna Hickman and Gerald Yamada.