Senior Housing News October 3, 2024
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This week Brookdale Senior Living (NYSE: BKD) announced it will buy 41 of its leased communities for $610 million, increasing the company’s share of owned and managed units to about two-thirds of its total portfolio.
Brookdale funded the transaction – more precisely, three separate deals with different landlords – through a handful of moves, including with new financing led by investor Deerfield Management and with help from Flat Footed, LLC.
Brookdale CEO Cindy Baier noted the operator undertook the move in part to preserve flexibility to modify its portfolio based upon “the right decision for Brookdale and our shareholders,” Baier said. That’s something that “doesn’t exist when communities are locked within a...
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