Senior Housing News 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.
Among the companies involved in the transaction are landlords Welltower (NYSE: WELL) and Diversified Healthcare Trust (NYSE: DHC) .
The communities carry occupancy rates above the company’s average, and with positive lease coverage the deal “enables Brookdale to fully capitalize on the unprecedented multi-year senior living growth opportunity,” the company noted in the announcement.
With the move, the company now owns 66% of the consolidated units it manages. The operator also addressed the majority of...
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