Ventas (NYSE: VTR) CEO Debra Cafaro believes that the company has significant growth opportunities in North America and the U.K., with exceptional potential for expansion in the U.S. In a recent interview at the 2024 Nareit REITweek Investor Conference, Cafaro expressed excitement about the current market conditions, highlighting high cash yields and embedded growth prospects.
In 2024, Ventas plans to invest $750 million in external growth, with a focus on senior housing. The company currently owns 800 senior housing properties in North America and the U.K., including 581 properties in its senior housing operating portfolio (SHOP).
Ventas is actively seeking senior living communities with yields of 7% to 8% and unlevered IRR in the low- to mid-teens. Executive Vice President of Senior Living Justin Hutchens noted that the company’s growth strategy includes acquiring properties below replacement value with strong occupancy rates.
With a goal to increase average senior housing occupancy by 10 percentage points in the coming years, Ventas is also focused on internal growth. The recent hire of Lindsay Casillas as senior vice president and chief revenue officer further strengthens the company’s leadership team and emphasizes a commitment to top-line growth.
