Edition:
United Kingdom

Brookdale And Welltower Enter Into Mutually-Beneficial Agreements


Wednesday, 27 Jun 2018 

June 27 (Reuters) - Brookdale Senior Living Inc ::BROOKDALE AND WELLTOWER ENTER INTO MUTUALLY-BENEFICIAL AGREEMENTS.BROOKDALE SENIOR LIVING - CO, WELLTOWER HAVE AGREED TO EARLY TERMINATION OF CO'S TRIPLE-NET LEASE OBLIGATIONS ON 37 COMMUNITIES EFFECTIVE JUNE 30.BROOKDALE SENIOR LIVING - HAS AGREED TO SELL ITS 20% EQUITY INTEREST IN ITS EXISTING RIDEA JOINT VENTURE WITH WELLTOWER.BROOKDALE SENIOR LIVING - HAS ELECTED NOT TO RENEW TWO MASTER LEASES WITH WELLTOWER SCHEDULED TO MATURE ON SEPTEMBER 30, 2018.BROOKDALE SENIOR LIVING - AFTER CONCLUSION OF DEALS WITH WELLTOWER, CO WILL CONTINUE TO OPERATE 74 COMMUNITIES UNDER TRIPLE-NET LEASES WITH WELLTOWER.BROOKDALE SENIOR LIVING - AGREED TO SELL ITS 20% EQUITY INTEREST IN ITS EXISTING WELLTOWER RIDEA JV TO WELLTOWER FOR NET PROCEEDS OF ABOUT $35 MILLION. 

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18 Apr 2019