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. 

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