Ventas (VTR) 8-K Ventas Reports Third Quarter Normalized Ffo of $0.66 Per Diluted Share

Exhibit 99.2

Third Quarter 2009 Supplemental Data

St. Francis Millennium Medical Office Building - Greenville, SC

All amounts shown in this report are unaudited and in U.S. dollars unless otherwise noted.

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Table of Contents

Debt Summary	1-2
Debt Covenants	3-4
Triple-Net, Managed and Loan Portfolio	5-8
Operating Portfolio	9-10
Kindred Healthcare Same-Store TTM EBITDARM Coverage Ratios	11
Revenue Rollover Schedule	12
Company Development Data	13

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Debt Maturity Schedule:¹

¹ Dollars in millions; data as of October 28, 2009 and excludes normal monthly principal amortization. The Company’s joint venture partners’ pro rata share of total maturities is approximately $143 million. Reflects Ventas’s ability and intent to extend certain mortgage loans until 2010.

1

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Debt Summary as of September 30, 2009

Debt Maturities and Scheduled Principal Amortization¹

	Credit Facility				Senior/Convertible Notes					Mortgage Debt				Total Debt
Period	Amount		Rate2		Amount			Rate2		Amount3		Rate2		Amount			Rate2
2009	$	—	—		$	—		—		$	22,754	1.9	%	$	22,754		1.9	%
2010		—	—			1,375		6.8	%		195,517	4.1	%		196,892		4.1	%
2011		—	—			230,412		3.9	%		83,632	5.0	%		314,044		4.2	%
2012		9,713	2.5	%		82,433		9.0	%		328,457	6.2	%		420,603		6.7	%
2013		—	—			—		—			167,326	5.9	%		167,326		5.9	%
2014		—	—			71,654		6.6	%		14,217	6.2	%		85,871		6.6	%
2015		—	—			142,669		7.1	%		77,142	6.0	%		219,811		6.7	%
2016		—	—			400,000		6.5	%		204,533	6.1	%		604,533		6.4	%
2017		—	—			225,000		6.8	%		47,096	6.1	%		272,096		6.6	%
2018		—	—			—		—			19,971	6.5	%		19,971		6.5	%
Thereafter		—	—			—		—			324,211	4.7	%		324,211		4.7	%
Subtotal		9,713	2.5	%		1,153,543		6.3	%		1,484,856	5.4	%		2,648,112		5.9	%
Discounts and Fair Market Value, net		—				(45,307	)				12,337				(32,970	)
Total	$	9,713			$	1,108,236				$	1,497,193			$	2,615,142
Weighted Average Maturity in Years		1.9				5.4					5.6				5.5

Debt Composition¹

	September 30, 2009
	Amount		Rate2		% of Total
Fixed Rate Debt
Senior/Convertible Notes		1,153,543	6.3	%	43.6	%
Mortgage Debt		1,270,759	6.3	%	48.0	%
Total Fixed Rate Debt	$	2,424,302	6.3	%	91.5	%
Variable Rate Debt
Credit Facility		9,713	2.5	%	0.4	%
Mortgage Debt		214,097	1.7	%	8.1	%
Total Variable Rate Debt		223,810	1.7	%	8.5	%
Total Debt	$	2,648,112	5.9	%	100.0	%

¹ Dollars in thousands.

² Rates are based on the cash interest paid on the outstanding debt and do not include amortization of discounts, fair market value or debt costs.

³ The Company’s joint venture partners’ pro rata share of total mortgage debt is approximately $160 million.

2

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Debt Covenants:

	Credit Facility
	Required	09/30/09
Total Liabilities / Gross Asset Value	Not greater than 60%	38	%
Secured Debt / Gross Asset Value	Not greater than 30%	21	%
Unsecured Debt / Unencumb. Gross Asset Value	Not greater than 60%	26	%
Fixed Charge Coverage	Not less than 1.75x	3.1	x
Unencumbered Interest Coverage	Not less than 2.00x	5.3	x
	Bonds due 2012
	Required	09/30/09
Incurrence of Debt	Not greater than 60%	31	%
Incurrence of Secured Debt	Not greater than 40%	10	%
Total Unencumbered Assets	Not less than 150%	370	%
Consolidated Income Available for Debt Service to Debt Service	Not less than 2.00x	5.1	x

3

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Debt Covenants:

Secured Debt / Gross Asset Value	Unsecured Debt / Unencumbered Gross Asset Value
Fixed Charge Coverage	Unencumbered Interest Coverage

4

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Owned Portfolio - - Overview by Type (Dollars in Millions):¹

Property Type	Number of Properties	Number of Beds/Units/Square Feet		Number of States/ Provinces	Ventas Investment		Cash Flow Coverage		Occupancy2		Annualized NNN Revenue3			Annualized Operating Property Revenue3			Total Annualized Revenue3			Annualized NNN NOI3			Annualized Operating Property NOI3			Total Annualized NOI3
Hospital - Stabilized Triple-Net	40	3,517	Beds	17	$	345	2.5	x	59.2	%	$	94		$	0		$	94		$	94		$	0		$	94
Skilled Nursing - Stabilized Triple-Net	187	22,435	Beds	29		809	1.9	x	89.5	%		179			0			179			179			0			179
Seniors Housing - Triple-Net	164	16,691	Units	31		2,256	1.3	x	87.0	%		194			0			194			194			0			194
Seniors Housing - Operating	79	6,513	Units	21		2,033	N/A		88.1	%		0			363			363			0			114			114
Medical Office - Stabilized	19	1,046,828	Square Feet	9		223	N/A		94.0	%		0			28			28			0			18			18
Medical Office - Lease-Up	4	355,479	Square Feet	4		76	N/A		70.6	%		0			8			8			0			5			5
Other - Stabilized Triple-Net	8	122	Beds	1		7	5.1	x	N/A			1			0			1			1			0			1
Total	501			45	$	5,750	1.8	x			$	468		$	399		$	867		$	468		$	137		$	604
												54	%		46	%		100	%		77	%		23	%		100	%

Loan Portfolio - Overview by Investment (Dollars in Millions):¹

Borrower	Original Investment		Outstanding Principal		Secured/ Unsecured	Borrower/ Asset Type	Effective Interest Rate		Annualized Revenue3		Balance Sheet Line
Manor Care	$	99	$	112	Secured	SNF/ALF	L + 533 bps		$	6	Loans Receivable
HCA		45		50	Unsecured	Hospital	9.2	%		4	Other Assets
Emeritus Senior Living		15		15	Secured	Seniors Housing	7.8	%		1	Loans Receivable
Brookdale Senior Living		9		0	Secured	Seniors Housing	L + 600 bps	4		0	Loans Receivable
Other - Secured5		13		9	Secured	Seniors Housing	N/A			0	Loans Receivable
Other - Unsecured		19		20	Unsecured	Hospital	8.8	%		2	Other Assets
Total	$	199	$	206					$	13

Owned Portfolio - Overview by State/Province:¹

	Totals			Hospital		Skilled Nursing		Seniors Housing		Medical Office		Other
State/Province	No.	%		No.	Beds	No.	Beds	No.	Units	No.	Sq. Feet	No.	Beds
California	37	7	%	5	455	6	771	26	3,304	0	0	0	0
Pennsylvania	34	7	%	2	115	6	797	24	1,597	2	111,671	0	0
Massachusetts	34	7	%	2	109	26	2,694	6	856	0	0	0	0
Ohio	30	6	%	0	0	12	1,599	16	1,152	2	144,639	0	0
Kentucky	29	6	%	2	424	27	3,054	0	0	0	0	0	0
Florida	26	5	%	6	511	0	0	14	1,452	6	206,533	0	0
Indiana	23	5	%	1	59	13	1,867	9	1,001	0	0	0	0
North Carolina	23	5	%	1	124	16	1,802	6	438	0	0	0	0
Illinois	22	4	%	4	431	1	82	17	2,634	0	0	0	0
Texas	21	4	%	7	496	0	0	3	261	3	78,222	8	122
All Other	222	44	%	10	793	80	9,769	122	10,509	10	861,242	0	0
Total	501	100	%	40	3,517	187	22,435	243	23,204	23	1,402,307	8	122

¹ Totals may not add due to rounding.

² Occupancy shown for Seniors Housing excludes communities in lease-up. Occupancy for triple-net properties is as of 2Q09 and occupancy for operating properties is as of 3Q09.

³ Annualized third quarter Ventas revenue/NOI assuming all events occurred at the beginning of the period. Revenue/NOI reflects Ventas’s portion only for joint venture assets.

⁴ LIBOR floor of 3%. Excludes upfront fee equating to 0.67% per annum.

⁵ Outstanding principal is the approximate carrying value.

5

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Owned and Loan Portfolio - Property Type Concentration (Dollars in Millions):¹

Investment Type	Owned Property Count	Ventas Investment		%		Annualized Rent/ Revenue2		%		Annualized Rent/NOI2		%
Seniors Housing	243	$	4,289	72	%	$	557	63	%	$	308	50	%
Skilled Nursing	187		809	14	%		179	20	%		179	29	%
Hospital	40		345	6	%		94	11	%		94	15	%
Medical Office	23		300	5	%		36	4	%		23	4	%
Other	8		7	NM			1	NM			1	NM
Loans	N/A		206	3	%		13	1	%		13	2	%
Total	501	$	5,955	100	%	$	880	100	%	$	617	100	%

Owned and Loan Portfolio - Operator Concentration (Dollars in Millions):¹

Operator/Manager	Owned Property Count	Ventas Investment		%		Annualized Rent/ Revenue2		%		Annualized Rent/NOI2		%
Sunrise Senior Living	79	$	2,033	34	%	$	363	41	%	$	114	18	%
Brookdale Senior Living	84		1,403	24	%		122	14	%		122	20	%
Kindred Healthcare	197		906	15	%		244	28	%		244	39	%
Senior Care	65		621	10	%		51	6	%		51	8	%
Emeritus Senior Living	11		168	3	%		17	2	%		17	3	%
Capital Senior Living	11		158	3	%		14	2	%		14	2	%
Manor Care	N/A		112	2	%		6	1	%		6	1	%
NexCore	4		93	2	%		12	1	%		7	1	%
Formation	11		88	1	%		11	1	%		11	2	%
Greenfield	7		51	1	%		6	1	%		4	1	%
HCA	1		51	1	%		4	NM			4	1	%
Assisted Living Concepts	8		50	1	%		5	1	%		5	1	%
All Other	23		221	4	%		25	3	%		19	3	%
Total	501	$	5,955	100	%	$	880	100	%	$	617	100	%

Owned Portfolio - State/Province Concentration (Dollars in Millions):¹

State/Province	Owned Property Count	Annualized Rent/ Revenue2		%		Annualized Rent/NOI2		%
California	37	$	111	13	%	$	77	13	%
Illinois	22		89	10	%		66	11	%
Ontario	9		50	6	%		12	2	%
Massachusetts	34		49	6	%		42	7	%
Pennsylvania	34		47	5	%		26	4	%
New Jersey	11		40	5	%		17	3	%
Florida	26		38	4	%		36	6	%
Colorado	15		34	4	%		19	3	%
Georgia	16		30	3	%		17	3	%
New York	14		29	3	%		19	3	%
All Other	283		350	40	%		273	45	%
Total	501	$	867	100	%	$	604	100	%

¹ Totals may not add due to rounding. NM = not material.

² Annualized third quarter Ventas revenue/NOI assuming all events occurred at the beginning of the period. Operating asset revenue/NOI reflects Ventas’s portion only for joint venture assets.

6

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Owned and Loan Portfolio - Property Type Concentration:¹

Owned and Loan Portfolio - Operator Concentration:¹

¹ Annualized third quarter Ventas revenue/NOI assuming all events occurred at the beginning of the period. Operating asset revenue/NOI reflects Ventas’s portion only for joint venture assets. Totals may not add due to rounding.

7

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Same-Store Triple-Net Portfolio Trend Data for Properties Owned for the Full 2nd Quarters of 2009 & 2008:^1,2

		Sequential Quarter Comparison								Year-Over-Year Comparison
Property Type	Number of Properties	2Q09 Cash Flow Coverage		1Q09 Cash Flow Coverage		2Q09 Occupancy		1Q09 Occupancy		2Q09 Cash Flow Coverage		2Q08 Cash Flow Coverage		2Q09 Occupancy		2Q08 Occupancy
Hospital	40	2.5	x	2.5	x	59.2	%	61.7	%	2.5	x	2.6	x	59.2	%	62.4	%
Skilled Nursing	186	1.9	x	2.0	x	89.5	%	89.9	%	1.9	x	2.0	x	89.5	%	89.5	%
Seniors Housing	164	1.3	x	1.3	x	87.0	%	87.2	%	1.3	x	1.3	x	87.0	%	87.7	%
Other	8	5.1	x	5.2	x	N/A		N/A		5.1	x	4.9	x	N/A		N/A
Total	398	1.8	x	1.8	x					1.8	x	1.8	x

Same-Store Triple-Net Portfolio Trend Data for Properties Owned for the Full 1st and 2nd Quarters of 2009:^1,2

		Sequential Quarter Comparison
Property Type	Number of Properties	2Q09 Cash Flow Coverage		1Q09 Cash Flow Coverage		2Q09 Occupancy		1Q09 Occupancy
Hospital	40	2.5	x	2.5	x	59.2	%	61.7	%
Skilled Nursing	186	1.9	x	2.0	x	89.5	%	89.9	%
Seniors Housing	164	1.3	x	1.3	x	87.0	%	87.2	%
Other	8	5.1	x	5.2	x	N/A		N/A
Total	398	1.8	x	1.8	x

¹ Second quarter 2009 is most recent quarter available.

² Cash flow coverages are for trailing twelve months or annualized where the Company’s ownership is for a shorter period.

8

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Medical Office Portfolio Statistics:¹

	Year-Over-Year Comparison
	Stabilized						Same-Store Stabilized2,3						Lease-Up
	3Q09			3Q084			3Q09			3Q084			3Q09			3Q08
Number of properties:		19			19			17			17			4			2
Number of square feet:		1,046,828			1,046,828			870,700			870,700			355,479			181,952
Average occupancy:		94.0	%		95.6	%		93.1	%		95.2	%		70.6	%		57.8	%
Average annual rate per square foot:5	$	29		$	27		$	29		$	27		$	30		$	26
Operating revenue:	$	7.3		$	6.3		$	6.1		$	5.9		$	1.8		$	0.8
Less expenses:		2.6			1.9			2.3			1.8			0.7			0.4
Total NOI:		4.7			4.4			3.8			4.1			1.1			0.4
Less Company’s partners’ share:		0.2			0.4			0.2			0.4			0.1			0.0
Ventas NOI:	$	4.5		$	4.0		$	3.6		$	3.7		$	1.0		$	0.4
	Sequential Quarter Comparison
	Stabilized						Same-Store Stabilized2,3						Lease-Up
	3Q09			2Q09			3Q09			2Q09			3Q09			2Q09
Number of properties:		19			19			19			19			4			3
Number of square feet:		1,046,828			1,046,828			1,046,828			1,046,828			355,479			280,363
Average occupancy:		94.0	%		93.5	%		94.0	%		93.5	%		70.6	%		67.2	%
Average annual rate per square foot:5	$	29		$	29		$	29		$	29		$	30		$	28
Operating revenue:	$	7.3		$	7.3		$	7.3		$	7.3		$	1.8		$	1.0
Less expenses:		2.6			2.6			2.6			2.6			0.7			0.3
Total NOI:		4.7			4.7			4.7			4.7			1.1			0.7
Less Company’s partners’ share:		0.2			0.2			0.2			0.2			0.1			0.0
Ventas NOI:	$	4.5		$	4.5		$	4.5		$	4.5		$	1.0		$	0.7

¹ Dollars in millions except for rate data. Totals may not add due to rounding.

² Includes only those MOBs owned for the full period.

³ Includes only those MOBs owned in both comparison periods.

⁴ Restated to include two MOBs previously classified as non-operating.

⁵ Average annual rate includes CAM adjustments.

9

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Seniors Housing Operating Portfolio Statistics:¹

	Year-Over-Year Comparison
	Stabilized						Same-Store Stabilized2						Lease-Up
	3Q09			3Q08			3Q09			3Q08			3Q09			3Q08
Number of properties:		78			76			76			76			1			3
Number of units:		6,284			6,141			6,141			6,141			229			372
Resident day capacity:		684,752			668,656			668,836			668,656			23,552			39,468
Average resident occupancy:		88.1	%		91.5	%		88.3	%		91.5	%		72.0	%		59.1	%
Average daily rate / resident fees:	$	173		$	171		$	173		$	171		$	136		$	160
Operating revenue:	$	104.2		$	104.9		$	101.9		$	104.9		$	2.3		$	3.7
Less expenses:		71.2			69.9			69.3			69.9			1.9			3.5
Total NOI:		33.0			34.9			32.6			34.9			0.4			0.3
Less Company’s partner’s share:		4.9			5.1			4.8			5.1			0.1			0.1
Ventas NOI:	$	28.1		$	29.8		$	27.8		$	29.8		$	0.3		$	0.2
	Sequential Quarter Comparison
	Stabilized						Same-Store Stabilized2						Lease-Up
	3Q09			2Q09			3Q09			2Q09			3Q09			2Q09
Number of properties:		78			78			78			78			1			1
Number of units:		6,284			6,284			6,284			6,284			229			229
Resident day capacity:		684,752			677,131			684,752			677,131			23,552			23,296
Average resident occupancy:		88.1	%		87.2	%		88.1	%		87.2	%		72.0	%		67.9	%
Average daily rate / resident fees:	$	173		$	172		$	173		$	172		$	136		$	125
Operating revenue:	$	104.2		$	101.4		$	104.2		$	101.4		$	2.3		$	2.0
Less expenses:		71.2			67.7			71.2			67.7			1.9			1.8
Total NOI:		33.0			33.7			33.0			33.7			0.4			0.2
Less Company’s partner’s share:		4.9			5.1			4.9			5.1			0.1			0.0
Ventas NOI:	$	28.1		$	28.6		$	28.1		$	28.6		$	0.3		$	0.1

¹ Dollars in millions except for rate data. Totals may not add due to rounding.

² Includes only those communities stabilized in both comparison periods.

10

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Kindred Healthcare Same-Store TTM EBITDARM Coverage Ratios:¹

	Number of Properties	Sequential Quarter Comparison				Year-Over-Year Comparison
Ventas - Kindred Master Lease		2Q09		1Q09		2Q09		2Q08
1	81	2.3	x	2.3	x	2.3	x	2.4	x
2	40	2.0	x	1.9	x	2.0	x	2.1	x
3	36	1.7	x	1.9	x	1.7	x	2.0	x
4	40	2.3	x	2.3	x	2.3	x	2.4	x
Total	197	2.1	x	2.2	x	2.1	x	2.3	x
Property Type	Number of Properties	2Q09		1Q09		2Q09		2Q08
Hospital	38	2.5	x	2.5	x	2.5	x	2.7	x
Skilled Nursing	159	1.9	x	2.0	x	1.9	x	2.0	x
Total	197	2.1	x	2.2	x	2.1	x	2.3	x

¹ Coverage reflects the ratio of Kindred’s EBITDARM to rent. EBITDARM is defined as earnings before interest, income taxes, depreciation, amortization, rent and management fees. In the calculation of trailing twelve months EBITDARM, intercompany profit pertaining to services provided by Kindred’s PeopleFirst Rehabilitation Division has been eliminated from purchased ancillary expenses within the Ventas portfolio. Second quarter 2009 is most recent quarter available.

11

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Triple-Net and Operating Portfolio Revenue Rollover Schedule Excluding Seniors Housing Operating Communities:¹

				Lease Rollover Year
	Totals			2009			2010			2011			2012			2013			Thereafter
Hospital - Stabilized Triple-Net:
Annualized Revenue	$	94.3			—			—			—			—		$	46.9		$	47.4
Skilled Nursing - Stabilized Triple-Net:
Annualized Revenue		178.6			—			—			—		$	2.2			70.5			105.9
Seniors Housing - Stabilized Triple-Net:
Annualized Revenue		193.8			—			—			—			1.7			—			192.2
Medical Office - Stabilized:
Annualized Revenue2		28.0		$	0.9		$	3.2		$	3.3			2.7			2.3			15.6
Medical Office - Lease-Up:
Annualized Revenue2		6.9			—			0.1			0.4			0.2			0.2			6.0
Other - Stabilized Triple-Net:
Annualized Revenue		1.0			—			1.0			—			—			—			—
Total:
Annualized Revenue	$	502.6		$	0.9		$	4.3		$	3.7		$	6.8		$	119.9		$	367.1
Percent of Total:		100	%		0	%		1	%		1	%		1	%		24	%		73	%

¹ Annualized third quarter Ventas revenue assuming all events occurred at the beginning of the period. Dollars in millions. Totals may not add due to rounding.

² Company’s partners’ share has not been eliminated from revenue.

12

Ventas, Inc.

Third Quarter 2009 Supplemental Data

Company Development Data:

Status

Property Name

Ventas Ownership %

MSA

Property Type

Number of Residents or Beds/ Units/Square Feet

Actual/ Projected Opening Date

Ventas Estimated/ Actual Acquisition Date

Total Development Cost1

Ventas Fixed Purchase Price (incl. FPAC)1

Expected Stabilized Yield

In Lease-up

Sunrise of Thorne Mills on Steeles

80

%

Toronto

IL/AL/ALZ

256 Residents /229 Units / 210,000 SF

September 2007

December 2007

Cdn $

62.8

Cdn $

52.7

8.0%-8.5%

To Be Acquired

Carroll MOB2

90

%

Baltimore

MOB

77,242 RSF

December 2009

November 2011

$

21.0

N/A

8.0%-8.5%

¹ Dollars in millions.

² Development cost is estimated cost to Ventas, subject to adjustments.

13