v3.26.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Real estate investments:    
Land and improvements $ 3,390,024 $ 2,962,738
Buildings and improvements 34,209,438 30,872,598
Construction in progress 248,737 358,811
Acquired lease intangibles 2,046,823 1,680,567
Operating lease assets 314,623 295,838
Gross real estate investments 40,209,645 36,170,552
Accumulated depreciation and amortization (12,912,169) (12,043,619)
Net real estate property 27,297,476 24,126,933
Secured loans receivable and investments, net 442,287 143,913
Investments in unconsolidated real estate entities 584,905 617,571
Net real estate investments 28,324,668 24,888,417
Cash and cash equivalents 202,009 741,067
Escrow deposits and restricted cash 27,623 45,070
Goodwill 1,045,824 1,046,072
Assets held for sale 100,813 42,993
Deferred income tax assets, net 2,807 2,797
Other assets 921,638 825,529
Total assets 30,625,382 27,591,945
Liabilities:    
Senior notes payable and other debt 12,436,652 13,011,016
Accrued interest payable 97,664 143,104
Operating lease liabilities 230,568 208,602
Accounts payable and other liabilities 1,469,788 1,240,820
Liabilities related to assets held for sale 6,489 4,032
Deferred income tax liabilities 31,801 23,409
Total liabilities 14,272,962 14,630,983
Redeemable OP unitholder and noncontrolling interests 492,756 375,154
Commitments and contingencies
Ventas stockholders’ equity:    
Preferred stock 0 0
Common stock 132,205 118,732
Capital in excess of par value 23,834,762 19,976,183
Accumulated other comprehensive loss (23,689) (39,851)
Retained earnings (deficit) (8,136,215) (7,527,777)
Treasury stock 0 (34)
Total Ventas stockholders’ equity 15,807,063 12,527,253
Noncontrolling interests 52,601 58,555
Total equity 15,859,664 12,585,808
Total liabilities and equity $ 30,625,382 $ 27,591,945