Ventas’ first-quarter funds from operations are up 41% over the same perioda year ago, the real estate investment trust announced Tuesday. TheLouisville, KY-based company attributed the rise to increased rents as aresult of real estate acquisitions last year.

Officials also said rent increases under its leases with some tenants
contributed to the big jump. Ventas owns nursing homes, assisted-living
communities and hospitals, and leases them to other operators, most notably
Louisville-based nursing home giant Kindred Healthcare. Ventas said recent
acquisitions have helped reduce its reliance on rents from Kindred.

Ventas reported that funds from operations, commonly used as a measure of
performance for REITs, totaled $57.5 million during the first quarter of
2006 compared with $40.7 million in the first quarter of 2005. Net income
for the company in the first quarter was $29.1 million, up from $27.6 in the
first quarter of last year. The REIT forecast 7% growth in funds from
operations for 2006.