Brookdale Senior Living Inc. is paying $610 million to buy a total of 41 communities scattered across three different portfolios.
One of them is involved with a $300 million joint venture between Welltower Inc. to acquire 11 senior living communities, consisting of 1,228 units. Brookdale will take on $195 million debt, carrying a 4.92 percent fixed rate that is set to mature in March 2027. The communities, held in a triple lease with yearly rent payments of $22 million, are located in Seattle, Washington, and the Bay Area, California. The average occupancy rate is roughly 80 percent in this portfolio.
The Nashville, Tennessee-based firm also acquired five senior living communities, with a total of 686 units for $175 million in a separate deal from Welltower. The properties are occupied in a triple net lease, with annual rent payments of $13 million, and maturity is set for December 31, 2024. The properties are located in Nashville, Denver, and Overland Park, Kansas.
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