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Brookdale Senior in deal with HCP to hopefully boost sale process

Published 11/02/2017, 07:43 AM
© Reuters.  Brookdale Senior in deal with HCP to hopefully boost sale process
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  • The deal involves lease terminations on 34 communities, with Brookdale (NYSE:BKD) acquiring two. Brookdale's (BKD) remaining triple-net lease portfolio with HCP will be consolidated into one master lease.
  • In part two, HCP will acquire Brookdale's 10% interest in two RIDEA JVs for which Brookdale provides management services to 50 communities. Brookdale will acquire four of these communities, and will retain management on 18 of them.
  • The purpose of these chess piece moves is to simplify Brookdale's operating platform, giving it more flexibility as it pursues strategic alternatives.
  • The six acquisitions will cost $275M plus transaction costs.
  • Source: Press release
  • Now read: Top 5 Big-Dividend Healthcare REITs Worth Considering


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