HCP, Inc. (HCP) Reports Q3 AFFO of $0.48
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Brookdale Senior Living (BKD) Reports Multi-Part Transaction Agreement with HCP (HCP)
November 2, 2017 7:10 AM EDTBrookdale Senior Living (NYSE: BKD) today announced that it has entered into a definitive agreement with HCP, Inc. (NYSE: HCP) for a multi-part transaction that will include the following components:
Lease Terminations Triple-net leases on 34 communities (3,170 units) will be terminated. Brookdale will acquire two of such communities (208 units). Brookdale's remaining triple-net lease portfolio with HCP will be consolidated into one master lease.RIDEA Restructurings HCP will acquire Brookdale's 10% equity ownership in two existing RIDEA joint ventures with HCP, for which Brookdale provides management services to 59 communities (9,585 units).... More