Big Deal Monday

Brookdale and HCP finalized their deal to form a joint venture to own a 14-site portfolio of entry-fee Continuing Care Retirement Communities, with HCP investing $324 million into the joint venture to acquire four of the communities, with the overall value of the portfolio is expected to be near $1.2 billion. The portfolio is mainly located in our home state of Florida and has 7,000 units with the expected mix of independent and assisted living, as well as memory-care.

Aviv REIT, based out of Chicago, acquired four skilled nursing facilities located in Washington state, an assisted living facility in Washington state and a campus containing both assisted living and skilled nursing in Idaho last week for a total price of $83.6 million.

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