Brookdale Activists Strike Again

We disclosed last week that activist investor Land & Buildings (L&B) had nominated Jay Flaherty, former CEO of HCP, Inc., and Jonathan Litt (founder of L&B) for board election at the 2019 annual meeting of Brookdale Senior Living. L&B has just sent an open letter to Brookdale shareholders providing more rationale for the election of […]

Avalon Senior Living Grows

Avalon Senior Living has partnered again with Eastridge Pacific Holdings, LLC (EPH), this time buying three senior living communities in California from HCP, Inc. that had been leased to Brookdale Senior Living. The 205 units (210 beds) offer independent living, assisted living and memory care services. The purchase price was $15.7 million, or $76,585 per […]

HCP Sheds More Brookdale Properties

The team at Cushman & Wakefield announced that they represented HCP, Inc. in the REIT’s sale of 17 Brookdale Senior Living-managed seniors housing communities for $264 million. Richard Swartz, Jay Wagner, James Dooley and Sam Dylag led the way on the transaction and are still working to close on the sale of two more properties, […]

Is Apollo Global Management Entering Our Space, Again?

After a disastrous outing 20 years ago, Apollo may see better opportunities this time around. The rumors are swirling that private equity giant Apollo Global Management is putting its toe back in our market after a long absence. The rumor is that Apollo is buying 22 senior living communities from HCP, Inc. that are operated […]

CBRE Does Deal Double

The CBRE National Senior Housing group flexed its muscles this week, closing two acquisition financings and an asset sale. First, Lisa Widmier represented HCP in its divestment of a 159-unit independent living/assisted living community in Beaumont, Texas, for an undisclosed price. Featuring a majority of independent living units, the community was built in 1996. Under […]

HFF Closes $115 Million Financing For Seattle Senior Living High-Rise

Columbia Pacific Advisors just received about $115 million in financing for its to-be-built senior living high-rise in Seattle’s First Hill neighborhood. David Fasano, Sarah Anderson, Casey Davison, Ryan Maconachy and Chad Lavender of Holliday Fenoglio Fowler (HFF) represented CPA in the transaction, with HCP, Inc. providing the loan. Location is key for this development, as […]

HCP Continues To Lighten Its Brookdale Load

The ramifications of Brookdale Senior Living’s latest blow-up have spread beyond just its precipitous drop in share price. Major Brookdale landlord, HCP, Inc., just announced it was reducing its cash NOI and interest income concentration in Brookdale from 27.0% to 15.7%, on a pro-forma basis. The restructuring included the sale of six Brookdale properties for […]