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News and Information Article
CHICAGO, Dec. 30 /-FirstCall/ -- Brookdale Senior Living Inc.
(NYSE: BKD) announced today that it acquired 6 facilities from Capstead
Mortgage Corporation that Brookdale has leased from Capstead since 2002. The
purchase is structured as a stock transaction, at a total cost of $181
million, including a $57.5 million cash payment to Capstead.
The portfolio is comprised of 6 independent and assisted living
facilities, containing a total of 1,394 units and is located in Florida,
Georgia, Virginia, Ohio and Texas.
In other transactions since Brookdales IPO, the Company has acquired two
portfolios, one from Omega Healthcare Investors Inc. and the other from
Merrill Gardens. Brookdale purchased the Omega portfolio, with 6 facilities
containing 237 beds, for $20.5 million, and the Merrill Gardens portfolio,
with 4 facilities containing 183 beds, for $16.5 million. In addition,
Brookdale recently entered into a definitive agreement to acquire Southern
Assisted Living Inc., a portfolio of 41 properties with 2,887 beds, for $82.9
million.
About Brookdale Senior Living
Brookdale Senior Living Inc. is a leading owner and operator of senior
living facilities throughout the United States. The Company is committed to
providing an exceptional living experience through properties that are
designed, purpose-built and operated to provide the highest-quality service,
care and living accommodations for residents. The Company owns and operates
independent, assisted and dementia-care facilities, with a total of 384
facilities in 32 states and the ability to serve over 30,000 residents.
Certain items in this press release may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995 including, but not necessarily limited to, statements relating to our
ability to close the acquisition, satisfaction of closing conditions,
obtaining consents, the exercise of our due diligence termination rights, and
the timing of the closing of the acquisition. Words such as "expect(s)" and
similar expressions are intended to identify such forward-looking statements.
These statements are based on managements current expectations and beliefs
and are subject to a number of factors that could lead to actual results
materially different from those described in the forward-looking statements;
Brookdale can give no assurance that its expectations will be attained.
Factors that could cause actual results to differ materially from Brookdales
expectations include, but are not limited to, whether conditions to the
closing of the transaction will not be satisfied and other risks detailed from
time to time in Brookdales SEC reports. Such forward-looking statements
speak only as of the date of this press release. Brookdale expressly
disclaims any obligation to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in the
Companys expectations with regard thereto or change in events, conditions or
circumstances on which any statement is based.
For more information regarding Brookdale and to be added to our email
distribution list, please visit http://www.brookdaleliving.com.
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