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Provider: Wright Reports
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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. 

Company Quote

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11:16am EDT