Ventas, a Chicago-based healthcare real estate investment firm, reported net income of $651.1 million in 2016, a 55 percent increase from $419.2 million in 2015, according to a filing with the Securities and Exchange Commission.
The rise in net income was partially attributed to a decrease in office building services costs, which fell from $26.6 million in 2015 to $7.3 million in 2016. In addition, Ventas saw a decrease in merger costs, from $102.9 million in 2015 to $24.6 million last year.
The company's earnings per share increased year-over-year from $1.23 in 2015 to $1.88 in 2016, according to the filing.