Chicago-based real estate investment trust Ventas has selected Discovery Senior Living to manage 15 senior living communities it owns across multiple states. The properties formerly were leased by Brookdale Senior Living, Discovery told the McKnight’s Business Daily.
“The 15 communities, previously managed under a triple-net lease structure, have tremendous upside occupancy potential, and Discovery is pleased with Ventas’ confidence in the company’s ability to deliver turnaround success,” the Bonita Springs, FL-based operator said in a press release on Friday.
Discovery will begin operating some of the communities in September, with the rest expected to transition by the end of the year…