Image of male nurse pushing senior woman in a wheelchair in nursing facility

Ventas Inc. announced its agreement to purchase Atria Senior Living Group—the  fourth-largest assisted living property operator in the United States—for $3.1 billion.

As part of the transaction Ventas, a real estate investment trust, will acquire 118 senior housing developments located in several wealthy markets, such as the New York Metropolitan area, New England, Boston and California. The portfolio of Atria assets includes 110 stable assets and eight redevelopment assets, including about 13,500 units. The facilities consist of a median community size of 110 units, a median community age of 12 years and a current average occupancy rate over 87%.

The addition of the developments ”will establish Ventas as the largest owner of seniors housing communities in the United States,” Ventas President, CEO and Chairwoman Debra Cafaro said in a press release.

REITs, which some of the best access to capital todayl, have been making major deals in the long-term care sector recently. Health Care REIT Inc., for example, disclosed in August it would form a partnership valued at $817 million with Seattle-based Merrill Gardens LLC.