Ventas to Buy Long Island Senior Communities for $600 Million

Ventas Inc. is buying a senior housing portfolio on New York’s Long Island for more than $600 million, according to people familiar with the matter.

Chicago-based Ventas, already among the largest owners of US senior housing, is purchasing six communities from Harrison Street Asset Management and B2K Development, according to the people, who spoke on the condition of anonymity.

B2K, with headquarters in Long Island’s Jericho, will continue to manage the properties and can earn incentive fees if the portfolio performs well, one of the people said. Newmark Group Inc. advised the sellers.

In an emailed statement, Ventas Chief ...