Ventas, Inc. (NYSE:VTR) Q4 2022 Earnings Call Transcript

David Rodgers : Probably for you, Justin. In terms of capital deployment this year, you guys put out, I think, $1.2 billion last year. Where are you seeing kind of the best opportunities today outside of the redevelopment, which you’ve mentioned earlier in the call? But are you seeing more opportunities commercially to put more money to work in life science or MOB? Or do you think it will continue to be in SHOP by bringing new portfolios on? I guess, what are the biggest dislocations today in your mind? And how much are you interested in taking advantage of those?

Justin Hutchens : Yes. So first of all, we’re fortunate to have a wide variety of capital sources to further acquisitions. We’ll prioritize our key asset classes, senior housing, obviously, is one of those, life science, Medical Office as well. The market itself is not normal. There’s exceptions to this, but there tends to be fewer market participants right now. The deals that that we’re seeing are getting repriced. Again, there’s exceptions to that. Pricing could be unclear on the stabilized assets. But we remain very interested in expanding the portfolio and growing in our preferred asset classes.

Operator: At this time, I’ll turn the conference back over to management for any concluding remarks.

Debra A. Cafaro : Thank you so much. I want to sincerely thank everyone for joining us on the call today. We really appreciate your interest in the company. We look forward to seeing you. We’re all very optimistic and aligned around our 2023 momentum and opportunities and are ready to get after it. Thank you very much.

Operator: Ladies and gentlemen, that will conclude today’s meeting. Thank you all for joining. You may now disconnect.