Ventas, Chicago, and Cogdell Spencer, Charlotte, N.C., announced that the two real estate investment trusts had signed a definitive agreement for Ventas to buy Cogdell for $760 million to $770 million in cash, not including transaction costs.
The deal would give healthcare-focused Ventas ownership of an additional 72 medical office buildings, including two in development. The transaction is expected to close in the second quarter of 2012, subject to approval by Cogdell's shareholders and other closing conditions, according to a news release.