Q3 Medical Office Industry Report

“MOB market fundamentals are strong with demand for outpatient space outstripping supply. We are benefiting from the secular tailwinds of aging demographics and the shift in care to outpatient settings. I’m proud of our leasing team for producing their fifth consecutive quarter of over 400,000 square feet of new signed leases in the multi-tenant portfolio.”

“We’ve grown earnings per share by mid-double digits the last three years and we have four levers to accelerate that growth moving forward: merger synergies, leasing momentum in labs, demand in outpatient medical, and disciplined capital allocation. The merger has proven to be a catalyst culturally and financially, with year-one synergies now tracking 25% above our initial forecast. Our portfolio and balance sheet have never been stronger.”

“Ventas thrives at the intersection of demographic-driven demand and disciplined execution. With our senior housing platform, we’re capitalizing on unprecedented multi-year growth opportunities, leveraging a 15% year-over-year NOI growth in SHOP, strategic acquisitions, and powerful operational tools. This unique blend of organic and external growth positions us as a leader in capturing the longevity economy, delivering exceptional environments for our residents, and driving shareholder value.”

“This quarter also marks the first time in our company’s history in which our quarterly revenue exceeded $2 billion. With eight consecutive quarters of 20%+ same-store NOI growth in our senior housing portfolio, we believe we are still in the early stages of an extraordinary growth cycle, driven by demographic tailwinds, historically wide margins, and the rollout of our innovative operating platform.”