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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. 

Company Quote

0.06 +0.14%
24 Oct 2014