Rent battle to enter another month
The dispute between Kindred Healthcare Inc. and its landlord, Ventas Inc., will continue into July.So far, the New York Supreme Court has not ruled on Kindred's request to bar Ventas from terminating Kindred's rights under four master leases, according to Ventas. The court this week asked the parties to reappear in court next Thursday to present their positions.
The legal dispute was triggered earlier this month when Ventas demanded that Kindred provide all appraisal reports related to Ventas facilities. Kindred refused to provide the information and sought an injunction against Ventas. Kindred sharply disagreed with its landlord's proposal in May to increase aggregate base rents under the leases by $111 million -- to $317 million per year.