Ventas VTR NNN — Property-level operating expenses

Other product segments

Similar metrics at other companies

WELLTriple-net — Property operating expenses

$7.81M-11.5%

CTREProperty operating expenses

$296K+182%

SBRATriple-net portfolio — Operating Expenses

$3.77M+8.5%

SVCNet Lease — Net lease operating expenses

$2.56M-6.9%

AHRTriple Net Leased Properties — Operating Lease Expense

$0—

BRSPNet Leased and Other Real Estate — Property operating expense

$20.08M+101%

Questions, answered.

What is Ventas's NNN — property-level operating expenses?

Ventas (VTR) reported NNN — property-level operating expenses of $2.9M in Q1 2026.

How has Ventas's NNN — property-level operating expenses changed year-over-year?

Ventas's NNN — property-level operating expenses decreased by 17.7% year-over-year, from $3.53M to $2.9M.

What is the long-term trend for Ventas's NNN — property-level operating expenses?

Over 4 years (2021 to 2025), Ventas's NNN — property-level operating expenses has grown at a -3.1% compound annual growth rate (CAGR), from $15.34M to $13.51M.

What does NNN — property-level operating expenses mean?

This metric tracks the direct operating costs associated with maintaining the Triple-Net (NNN) properties, such as taxes, insurance, and common area maintenance. While NNN leases are designed to shift these costs to tenants, this figure captures any expenses retained by the landlord or incurred during vacancy periods. It is a vital measure of the net profitability of the NNN segment.