Three previously announced transactions between Brookdale Senior Living and real estate investment trust Healthpeak Properties (formerly HCP Inc.) were finalized as of Jan. 31, Brookdale said Monday. Irvine, CA-based Healthpeak acquired Brentwood, TN-based Brookdale’s 51% equity interest in 14 entry-fee continuing care retirement communities, resulting in more than $285 million in net cash proceeds, Brookdale said. Healthpeak also paid Brookdale a $100 million management termination fee. The REIT now has a 100% ownership interest in the communities, management of which it previously said would be taken over by Des Moines, IA-based Life Care Services. Additionally, the country’s largest senior living company bought 18 formerly leased communities from Healthpeak for $405 million.
Read the full article: Brookdale, Healthpeak Complete $790M in Transactions //
Source: https://www.mcknightsseniorliving.com/home/news/brookdale-healthpeak-complete-790-million-in-transactions