By Tim Regan | September 30, 2024
Brookdale Senior Living is acquiring 41 communities currently managed under triple-net leases for $610 million, the company announced Monday.
The acquisition totals 2,789 units in three different portfolios of communities. The Brentwood, Tennessee-based senior living operator undertook the acquisition with financing led by Deerfield Management. With the move, the company now owns 66% of the units it manages.
Among the companies involved in the transaction are landlords Welltower (NYSE: WELL) and Diversified Healthcare Trust (NYSE: DHC) .
“The immediate and long-term benefits of these real estate transactions are wide-ranging, including future portfolio flexibility that comes through asset ownership, the opportunity to fully realize the long-term benefits of the powerful senior housing outlook,” Brookdale President and CEO Cindy Baier said in a press release about the move. “We appreciate Welltower, their JV partners and DHC for their partnership on these transactions as they highlight the importance of maintaining collaborative relationships with our REIT partners as we continually strive to further enhance shareholder value.”
This is a developing story that will be updated.
