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Midas Edge

Ventas, Inc.

For the period ended Dec 31, 2025. Filed Feb 6, 2026.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 6, 2026

VTR$90.34+0.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Schedule III — Real Estate and Accumulated Depreciation

For the Years Ended December 31,
202520242023
Reconciliation of real estate:
Carrying cost:
Balance at beginning of period$31,830,011$30,165,798$28,768,409
Additions during period:
Acquisitions2,164,0131,817,2751,437,729
Capital expenditures613,933560,006645,596
Deductions during period:
Foreign currency translation181,083(287,505)90,105
Other (1)(594,892)(425,563)(776,041)
Balance at end of period$34,194,148$31,830,011$30,165,798
Accumulated depreciation:
Balance at beginning of period$9,839,538$9,016,173$8,231,160
Additions during period:
Depreciation expense1,102,1961,015,531937,767
Dispositions:
Sales and/or transfers to assets held for sale(280,550)(115,981)(190,666)
Foreign currency translation38,937(76,185)37,912
Balance at end of period$10,700,121$9,839,538$9,016,173

(1)Other may include sales, transfers to assets held for sale and impairments.

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2025

Initial Cost to Company · Gross Amount Carriedat Close of Period
Description · Count · Encumbrances · Land andImprovements · Buildings andImprovements · CostsCapitalizedSubsequent to Acquisition (1) · Land andImprovements · Buildings andImprovements · Total · AccumulatedDepreciation · Net Book Value · Year ofConstruction · YearAcquired · Life on whichDepreciationIn Income Statement is Computed
UNITED STATES PROPERTIES
Senior Housing
Atria Senior Living165$489,318$509,942$4,599,617$827,971$544,369$5,393,161$5,937,530$2,214,975$3,722,5551860 - 20132007 - 202113 - 54 years
Sunrise Senior Living8514,987209,8772,328,854304,152224,9262,617,9582,842,8831,276,5361,566,3471985 - 20092007 - 202117 - 35 years
Discovery Senior Living78—168,3701,584,393134,766171,7661,715,7621,887,528574,1331,313,3951977 - 20202005 - 202414 - 47 years
Brookdale Senior Living7415,04090,749915,749102,17791,9011,016,7741,108,675518,817589,8581980 - 20122004 - 202124 - 35 years
Sinceri Senior Living57—91,133811,50392,54692,396902,786995,182358,239636,9431915 - 20172006 - 202435 - 35 years
Priority Life Care Properties38—55,211524,35886,47055,904610,135666,039244,157421,8821986 - 20092005 - 202129 - 51 years
Grace Management33—110,157840,12490,450113,852926,8801,040,732174,375866,3571985 - 20162004 - 202433 - 39 years
Koelsch Senior Communities24—46,924443,45313,28947,336456,330503,66694,368409,2971972 - 20192011 - 202535 - 35 years
Sodalis Senior Living17—21,311200,53329,07021,567229,346250,914112,632138,2821992 - 20012006 - 201535 - 35 years
Civitas Senior Living15—47,603577,709—47,603577,709625,31214,981610,3311999 - 20232025 - 202535 - 35 years
Health Dimensions Group15—7,21849,3249,9968,29258,24666,53822,54843,9901990 - 20192011 - 201935 - 35 years
Meridian Senior Living14—19,090104,2378,88219,091113,118132,20934,12798,0821972 - 20122011 - 202335 - 35 years
American House13—13,794191,09823,55415,426213,020228,44771,553156,8931998 - 20162006 - 202535 - 35 years
Sonida Senior Living12—16,140179,28042,23817,062220,596237,65891,556146,1021979 - 20062005 - 202135 - 47 years
Avamere Family of Companies11—20,407113,19213,81720,654126,763147,41655,62191,7961998 - 20142011 - 201535 - 35 years
Senior Lifestyle10—50,875487,27346,21453,162531,200584,36292,642491,7201982 - 20022011 - 202333 - 35 years
Milestone Retirement Communities10—15,710171,34524,74415,823195,976211,79963,110148,6881965 - 20112012 - 201435 - 35 years
Hawthorn Senior Living10—35,668220,09922,96735,948242,786278,73445,530233,2051991 - 20082021 - 202127 - 50 years
Other Senior Housing Operators9090,459245,8812,244,07064,407246,0552,308,3022,554,357315,0612,239,2971972 - 20222004 - 202511 - 35 years
Other Senior Housing———(21)——(21)(21)—(21)
Total Senior Housing771609,8041,776,06016,586,1901,937,7101,843,13318,456,82720,299,9606,374,96113,924,999
Initial Cost to Company · Gross Amount Carriedat Close of Period
Description · Count · Encumbrances · Land andImprovements · Buildings andImprovements · CostsCapitalizedSubsequent to Acquisition (1) · Land andImprovements · Buildings andImprovements · Total · AccumulatedDepreciation · Net Book Value · Year ofConstruction · YearAcquired · Life on whichDepreciationIn Income Statement is Computed
Outpatient Medical Buildings
Lillibridge23423,980186,3882,169,506767,704193,0052,930,5933,123,5981,352,1601,771,4381960 - 20162004 - 20234 - 39 years
PMB RES40227,32480,6381,029,259165,18284,0131,191,0671,275,079480,664794,4161968 - 20242011 - 202319 - 35 years
Ardent Health Services19—5,638214,8086335,638215,441221,07926,522194,5571974 - 20112018 - 202235 - 35 years
Other Medical Buildings Operators8810,377137,8411,088,50778,059135,5661,168,8401,304,408406,289898,1171954 - 20192004 - 202325 - 35 years
Other Medical Buildings————4,8612,8542,0074,8612,3612,500
Total Outpatient Medical Buildings381261,681410,5054,502,0801,016,439421,0765,507,9485,929,0252,267,9963,661,028
Research
Wexford26334,26569,3761,403,038317,52176,0871,713,8481,789,935431,9631,357,9721900 - 20252016 - 202215 - 60 years
Other Research Operators2—1,19476,5152,6761,19379,19180,38514,67065,7152010 - 20162020 - 202035 - 35 years
Other Research——11,80068,54261,22619,11880,34210,63969,703
Total Research28334,26570,5701,491,353388,739138,5061,812,1571,950,662457,2721,493,390
IRFs & LTACs
Kindred Healthcare31—83,308328,39333382,305329,728412,033198,852213,1811949 - 20081998 - 202420 - 40 years
Other IRFs & LTACs13—17,554195,0361,08817,556196,122213,67862,195151,4831989 - 20132011 - 202335 - 36 years
Total IRFs & LTACs44—100,862523,4291,42199,861525,850625,711261,047364,664
Other Healthcare Facilities
Ardent Health Services10—98,4281,126,01078,10697,4161,205,1281,302,544353,607948,9371928 - 20202018 - 202235 - 35 years
Skilled Nursing
Genesis Healthcare12—11,350164,745(5,708)11,350159,037170,38786,63283,7551948 - 19952004 - 201130 - 35 years
Other Skilled Nursing Operators14—12,86248,7001,40613,04349,92562,96819,09143,8771948 - 20001998 - 202329 - 40 years
Total Skilled Nursing26—24,212213,445(4,302)24,393208,962233,355105,723127,632
CANADIAN PROPERTIES
Senior Housing
Le Groupe Maurice371,197,162166,8942,042,752(26,675)161,5512,021,4222,182,972304,1891,878,7832000 - 20242019 - 202240 - 60 years
Atria Senior Living29270,89775,553845,363(66,034)67,142787,740854,882311,461543,4211988 - 20082014 - 201435 - 35 years
Sunrise Senior Living12—46,600418,821(62,082)38,964364,374403,339192,820210,5192001 - 20072007 - 200735 - 35 years
Initial Cost to Company · Gross Amount Carriedat Close of Period
Description · Count · Encumbrances · Land andImprovements · Buildings andImprovements · CostsCapitalizedSubsequent to Acquisition (1) · Land andImprovements · Buildings andImprovements · Total · AccumulatedDepreciation · Net Book Value · Year ofConstruction · YearAcquired · Life on whichDepreciationIn Income Statement is Computed
Other Senior Housing Operators6—25,172146,694(4,551)23,173144,142167,31520,782146,5332006 - 20192021 - 202135 - 35 years
Total Senior Housing841,468,059314,2193,453,630(159,342)290,8303,317,6783,608,508829,2522,779,256
UNITED KINGDOM PROPERTIES
Senior Housing
Care Concern Group11—40,48181,719(6,310)37,22778,664115,89021,50594,3851910 - 20142015 - 201740 - 40 years
International Hospital
Spire Healthcare3—11,903136,628(20,039)10,296118,196128,49228,75899,7341980 - 19862014 - 201450 - 50 years
TOTAL1,358$2,673,809$2,847,240$28,114,484$3,232,422$2,962,738$31,231,410$34,194,148$10,700,121$23,494,027

(1) Adjustments to basis included provisions for asset impairments, partial dispositions, costs capitalized subsequent to acquisitions and foreign currency translation adjustments.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.