On November 5, Ventas, Inc. announced it acquired an Eating Recovery Center medical office building in Plano, Texas for $58 million. The building is a 102,000-square-foot facility with 72 inpatient beds. The acquisition price represents a 7.2% yield on the expected 2022 net operating income for Ventas.
The Eating Recovery Center (ERC), founded in 2009, is one of the largest eating disorder treatment provider organizations in the United States with 35 centers across Colorado, California, Illinois, Texas, Ohio, Maryland, and Washington. ERC’s treatment offerings include inpatient services, intensive outpatient programming and virtual care. ERC operates a division called ERC Pathlight, which provides mood and anxiety treatment to consumers.
Founded in 1998, Ventas, Inc., owned by The Vanguard Group, is the largest health care REIT in the U.S., owning seniors housing and care properties, medical office buildings and LTAC hospitals with roughly 1,200 properties. Since 2004, Ventas has made more than $40 billion in strategic investments.
Eating Recovery Center offers multiple levels of care for eating disorders treatment in seven states. Eating Recovery Center partners with all major insurers to give individuals access to the care they need to pursue recovery and a fulfilling, full life.
This was reported by Ventas on November 5, 2021.
Contact information: Ventas Inc., 111 South Wacker Drive, Suite 4800, Chicago, Illinois 60606; 877-483-6827; Web site: www.ventasreit.com
Contact information: Eating Recovery Center, 7351 East Lowry Boulevard, Suite 200, Denver, Colorado 80230; 866-968-5785; Website: https://www.eatingrecoverycenter.com/