Post-Acute & Senior Living: HCP, Brookdale, plan $849M deal

REIT and operator use RIDEA structure to acquire 5,025-unit Chartwell portfolio

By Murray W. Wolf

Healthcare real estate investment trust (REIT) HCP Inc. (NYSE: HCP) and senior living operator Brookdale Senior Living Inc. (NYSE: BKD) announced March 17 that they have entered into a definitive agreement to acquire from Chartwell Retirement Residences a portfolio of 35 private-pay senior living communities representing 5,025 units for $849 million.

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