(Reuters) – Ventas Inc, one of the largest U.S. healthcare real estate investment trusts, said it would buy American Realty Capital Healthcare Trust Inc in a cash and stock deal valued at about $2.6 billion.
Ventas also said it would buy 29 independent living seniors housing communities in Canada from Holiday Retirement Corp for about C$980 million (about $902 million) in cash.
Ventas said the deal with ARC Healthcare would add 143 properties, comprising medical office buildings and senior housing communities, to its portfolio.
Ventas had about 1,029 medical office buildings and senior housing communities as of Dec. 31, 2013.
Ventas said ARC Healthcare shareholders will have the option to receive either 0.1688 Ventas shares or $11.33 in cash for each ARC Healthcare share. The cash offer represents a premium of about 14 percent to ARC Healthcare’s Friday closing.
Ventas said the deals would add at least 10 cents per share to its 2015 funds from operations (FFO), a measure of cash flow for real estate management companies.