By the late 2000s, Lillibridge had enjoyed an extraordinary run with its original institutional investors, but with the benefit of experience, it was time to start looking at options.
At that time, the Lillibridge team had taken the firm to more than $1 billion. During this period, there were many discussions with alternative capital partners, including public healthcare REITs — one of which was Ventas, a leading healthcare REIT in the US.
On July 7, 2010, Lillibridge was acquired by and became a wholly-owned subsidiary of Chicago based Ventas, Inc. (NYSE: VTR), an S&P 500 healthcare real estate investment trust (REIT). Together, Ventas and Lillibridge became the market-leading, fully integrated medical office and ambulatory care developer / owner and property manager. This powerhouse combination would help Lillibridge’s clients achieve their strategic and financial objectives during an era of healthcare reform and economic uncertainty.
Ventas’s strong balance sheet and access to capital allowed Lillibridge to continue to invest in its existing facilities, quickly and efficiently develop projects without the need for external funding, acquire (monetize) existing healthcare facilities and reduce transaction risks through fast and reliable project execution.