Ventas to Acquire Long Island Senior Housing Portfolio for $600M

Ventas is acquiring a portfolio of six senior housing communities on Long Island from Harrison Street Asset Management and B2K Development for over $600M. The acquisition is part of Ventas' strategy to capitalize on the growing demand for senior housing. The deal is expected to close in the second quarter of 2023.

Ventas Inc., a leading senior housing real estate investment trust (REIT), has announced the acquisition of a $600 million senior housing portfolio on Long Island from Harrison Street Asset Management and B2K Development. The deal, which includes six communities managed by B2K, underscores Ventas' strategy to expand its senior housing operating portfolio and capitalize on the growing aging population [1].

The portfolio, valued at over $600 million, comprises six communities in the Long Island area. B2K will continue to manage the properties and can earn incentive fees based on performance, according to people familiar with the matter. Ventas Chief Investment Officer Justin Hutchens described the acquisition as offering "high-quality senior living communities with upside potential" [1].

Ventas has been actively seeking to expand its senior housing portfolio, which totaled more than 850 properties at the end of June. The company has spent $3 billion on new acquisitions since the start of 2024, targeting newer properties in geographic markets with strong demand [1].

The acquisition comes at a time when the senior living market is experiencing a resurgence due to the aging of the baby boomer generation. More than 4 million boomers will hit 80 in the next five years, and occupancy at both active adult and assisted living communities is rising fast. Ventas, with a $31 billion market cap, is betting big on the "longevity economy" [2].

Despite the growing demand, the supply of senior living units is lagging. The National Investment Center for Seniors Housing and Care projects a demand for 100,000 new beds each year through 2040, but only about 4,000 new units are expected to be developed this year and next year. This supply-demand imbalance presents significant opportunities for investors [2].

Harrison Street, an alternative real estate investment management firm with $55 billion in assets under management, has seen strong performance in its U.S. Core Senior Housing strategy, posting a more than 30% increase in same-location net operating income last year. The firm's global CIO, Mike Gordon, described the current setup within the senior living sector as the strongest entry point in its 20-year history [2].

The acquisition by Ventas is a strategic move to capitalize on the growing demand for senior housing. With the aging population and increasing demand for senior living communities, Ventas' investment in this sector appears well-timed and poised for growth.

References:
[1] https://www.bloomberg.com/news/articles/2025-08-22/ventas-to-buy-long-island-senior-communities-for-600-million
[2] https://www.cnbc.com/2025/08/19/senior-living-housing-market-cant-keep-up-with-demand.html