Key Developments: Brookdale Senior Living Inc (BKD.N)

BKD.N on New York Stock Exchange

32.99USD
24 Oct 2014
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$0.08 (+0.24%)
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Latest Key Developments (Source: Significant Developments)

Brookdale announces pricing of public offering of 8,955,223 shares of common stock
Tuesday, 9 Sep 2014 07:00am EDT 

Brookdale Senior Living Inc:Pricing of its public offering of 8,955,223 shares of its common stock at price of $33.50 per share.Raising gross proceeds of $300.0 mln and net proceeds of about $287.1 million, after deducting the underwriting discounts and commissions and estimated offering expenses.Size of the offering has been increased from 8,750,000 shares to 8,955,223 shares.In connection with the offering, the Company has granted the underwriters of the offering an option for 30 days to purchase up to an additional 1,343,283 shares of its common stock.BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers for the offering and CSCA Capital Advisors, LLC and RBC Capital Markets are acting as co-managers for offering.Intends to use net proceeds from offering to finance exercise of purchase options on certain communities leased by Company, to repay certain outstanding indebtedness with weighted average interest rate of 7.3 pct and.For other general corporate purposes, which may include additional debt repayments and the acceleration of capital investments in Company's communities and corporate infrastructure platform.  Full Article

Brookdale Senior Living Inc announces public offering of 8,750,000 shares of common stock
Monday, 8 Sep 2014 04:09pm EDT 

Brookdale Senior Living Inc:Announces that it plans to offer to the public 8,750,000 shares of its common stock.Expects to grant the underwriters an option for 30 days to purchase up to an additional 1,312,500 shares of its common stock.BofA Merrill Lynch and Goldman, Sachs & Co. will serve as joint book-running managers for the offering and CS Capital Advisors, LLC and RBC Capital Markets will serve as co-managers for the offering.Intends to use the net proceeds from the offering to finance the exercise of purchase options on certain communities currently leased by the company.  Full Article

Brookdale and HCP completes $1.2 bln CCRC joint venture and amendment of former emeritus leases
Tuesday, 2 Sep 2014 08:00am EDT 

Brookdale Senior Living Inc:Announced closing of their previously disclosed multiple-element transaction, including: i) creation of a $1.2 bln strategic joint venture initially owning a portfolio of 14 entry fee CCRCs.and ii) amendments to the triple-net leases on 202 HCP-owned senior housing communities formerly operated by Emeritus Corporation, which was acquired by Brookdale in July 2014.As previously announced, concurrent with closing, HCP invested $324 mln of cash into the CCRC joint venture, which was used to acquire four communities representing four of the 14 campuses that initially constitute the venture.Brookdale will continue to manage the communities in CCRC portfolio.  Full Article

Brookdale Senior Living Inc announces secondary offering of common stock by certain affiliates of Fortress Investment Group LLC
Tuesday, 27 May 2014 04:11pm EDT 

Brookdale Senior Living Inc:Announced an underwritten public offering of 19,421,384 shares of its common stock by certain affiliates of Fortress Investment Group LLC.Says it will not sell any shares in the offering and will not receive any of the proceeds from the offering.Morgan Stanley & Co. LLC is acting as sole underwriter for the offering.  Full Article

Brookdale Senior Living and HCP expand relationship by creating $1.2 bln CCRC joint venture
Wednesday, 23 Apr 2014 05:35pm EDT 

Brookdale Senior Living:Says the company and HCP announced an agreement to create a new strategic joint venture that will own and operate entry fee continuing care retirement communities.Says at inception, the joint venture will own 14 CCRC campuses valued at $1.2 billion, with Brookdale continuing to manage these communities.In addition, the companies have agreed to amend leases on 202 HCP-owned senior housing communities currently operated by Emeritus Corporation.Closing of these transactions is conditioned upon the closing of the pending merger between Brookdale and Emeritus.  Full Article

Brookdale Senior Living Inc Completes Acquisition of Seven Communities
Wednesday, 2 Oct 2013 04:10pm EDT 

Brookdale Senior Living Inc announced that it had completed the previously announced acquisition of seven communities with a total of 613 units from Chartwell Retirement Residences for an aggregate purchase price of $80.9 million, plus customary transaction expenses. Brookdale has been managing six of the communities since the acquisition of Horizon Bay in September 2011. The seven communities, primarily assisted living and memory care units, will be added to the Company's Assisted Living segment. These communities are located in Alabama (1), Arizona (2), Georgia (2), Louisiana (1) and Oklahoma (1). The Company financed the transaction with $60.8 million of first mortgage financing (substantially through the assumption of existing debt), with the balance of the purchase price paid from cash on hand.  Full Article

Brookdale Senior Living Inc to Partner with Healthstream Inc
Thursday, 18 Jul 2013 09:25am EDT 

Healthstream Inc announced that Brookdale Senior Living Inc. selected HealthStream`s solutions to continue to develop their workforce of approximately 50,000 associates and meet their compliance training requirements. Through the five-year agreement, HealthStream`s Learning Center, Compliance Solution for long term care organizations, and Competency Center will be used by Brookdale, enterprise-wide. HealthStream and Brookdale will also co-develop and introduce to the market new courseware that targets the needs of the senior living workforce. HealthStream`s solutions will help ensure that Brookdale`s associates remain skilled and competent in the care delivered to the growing senior population. According to U.S. Census data, the number of individuals age 75 and older in the U.S. is expected to grow by 1.1 million by 2015. As the provider of senior housing in the U.S., Brookdale`s approximately 50,000 skilled associates serve the needs of seniors through independent living, assisted living, memory care, skilled nursing and home health services. They provide services in 650 communities in 36 states with a capacity to serve approximately 67,000 residents. Five-year agreement includes co-development of new courseware, HealthStream`s Learning Center & Compliance Solution for approximately 50,000 Brookdale associates, and HealthStream`s Competency Center  Full Article

Brookdale Senior Living Inc Announces Acquisition Transaction
Wednesday, 15 May 2013 08:00am EDT 

Brookdale Senior Living Inc announced that it has entered into a definitive agreement to acquire seven senior living communities with a total of 613 units from Chartwell Retirement Residences for an aggregate purchase price of $80.9 million, plus customary transaction expenses. Brookdale has been managing six of the communities since its acquisition of Horizon Bay in September 2011. The seven communities consist of 80 independent living units, 493 assisted living units and 40 Alzheimer's units, and had an average occupancy of 91.8% in 2012. These communities are located in Alabama (1), Arizona (2), Georgia (2), Louisiana (1) and Oklahoma (1). The Company expects to finance the transaction with approximately $61 million of first mortgage financing (substantially through the assumption of existing debt), with the balance of the purchase price to be paid from cash on hand.  Full Article

Brookdale Senior Living Inc Announces Retirement Of Co-President-Form 8-K
Monday, 22 Apr 2013 04:19pm EDT 

Brookdale Senior Living Inc reported in its Form 8-K that on April 18, 2013, John P. Rijos, Co-President and Chief Operating Officer of Brookdale Senior Living Inc. (Company), informed the Company that he will retire, effective June 15, 2013, after many years of service with the Company and its predecessors.  Full Article

Brookdale Senior Living Inc Appoints Andy Smith As Chief Executive Officer
Monday, 11 Feb 2013 04:33pm EST 

Brookdale Senior Living Inc announced that Board of Directors has selected T. Andrew (Andy) Smith to serve as Chief Executive Officer of the Company. Mr. Smith, currently the Company's Executive Vice President and General Counsel, will succeed Bill Sheriff as CEO, who had previously announced his intent to retire after 28 years with the Company and its predecessors. Mr. Smith will assume the new role on the first business day following the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2012, which the Company expects to occur within approximately the next week.  Full Article

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