Kindred Healthcare in Hospital Master Lease Negotiation

Cleary Gottlieb represented Kindred Healthcare, a publicly traded national operator of nursing centers and hospitals, in connection with its negotiation of a new master lease with Ventas for ten long-term acute care hospitals, containing approximately 1,066 licensed hospital beds. The master lease has an initial term of 10 years and an annual rent of $28 million.

Cleary Gottlieb also assisted with the negotiation of an arrangement to facilitate the early disposition of 54 nursing and rehabilitation centers that are currently leased by Kindred from Ventas under a partially expiring master lease.