v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real estate investments:    
Land and improvements $ 3,260,895 $ 2,962,738
Buildings and improvements 33,346,737 30,872,598
Construction in progress 253,902 358,811
Acquired lease intangibles 1,937,522 1,680,567
Operating lease assets 316,707 295,838
Gross real estate investments 39,115,763 36,170,552
Accumulated depreciation and amortization (12,622,838) (12,043,619)
Net real estate property 26,492,925 24,126,933
Secured loans receivable and investments, net 436,401 143,913
Investments in unconsolidated real estate entities 590,630 617,571
Net real estate investments 27,519,956 24,888,417
Cash and cash equivalents 198,956 741,067
Escrow deposits and restricted cash 24,861 45,070
Goodwill 1,045,816 1,046,072
Assets held for sale 28,744 42,993
Deferred income tax assets, net 3,134 2,797
Other assets 834,429 825,529
Total assets 29,655,896 27,591,945
Liabilities:    
Senior notes payable and other debt 12,687,789 13,011,016
Accrued interest payable 142,464 143,104
Operating lease liabilities 231,210 208,602
Accounts payable and other liabilities 1,349,477 1,240,820
Liabilities related to assets held for sale 2,584 4,032
Deferred income tax liabilities 30,739 23,409
Total liabilities 14,444,263 14,630,983
Redeemable OP unitholder and noncontrolling interests 509,069 375,154
Commitments and contingencies
Ventas stockholders’ equity:    
Preferred stock 0 0
Common stock 128,237 118,732
Capital in excess of par value 22,478,217 19,976,183
Accumulated other comprehensive loss (31,510) (39,851)
Retained earnings (deficit) (7,925,545) (7,527,777)
Treasury stock 0 (34)
Total Ventas stockholders’ equity 14,649,399 12,527,253
Noncontrolling interests 53,165 58,555
Total equity 14,702,564 12,585,808
Total liabilities and equity $ 29,655,896 $ 27,591,945