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Appraisers chosen by landlord Ventas and its embattled main tenant, Kindred Healthcare, said four master leases should increase cumulatively by $33.1 million annually.

The amount is less than one-third of the amount sought by Ventas, one of long-term care’s biggest real estate investment trusts. The REIT is exercising a one-time rent re-set right it received after helping bail out Kindred from bankruptcy proceedings five years ago.

Ventas now has 30 days to decide if it will accept one or more of the master leases, which would be worth $239 million overall each year. Appraisers also determined annual rent escalators should be about 2.65% if new rent levels are set. Or Ventas could stick with current leasing conditions, which include a 3.5% annul rent escalator.

Kindred President and CEO Paul Diaz called the outcome a “favorable resolution of the reset process.” Ventas President and CEO Debra Cafaro, who had requested a $111 million jump in annual rents, said the $33.1 million figure represented “an important increase in annual base rent on our 225 high quality facilities leased to Kindred.”