Brookdale closes $102M deal for 3 senior centers

AP News
Posted: Dec 21, 2009 7:56 PM

Brookdale Senior Living Inc. said Monday it has completed a $102 million acquisition of three retirement centers.

Nashville, Tenn.-based Brookdale owns and operates more than 500 senior living centers around the nation.

The total purchase price for the three properties was $102 million plus fees. Brookdale had previously owned a minority non-financial stake in the centers and collected management fees for work it did there. The company said the three centers have a total of 642 units and had 92 percent occupancy in the third quarter of 2009.

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The deal was financed with a $75.4 million mortgage loan from Fannie Mae, which carries a fixed interest rate of 6.1 percent, and with cash.

Brookdale shares rose 8 cents to close earlier at $18.46.