■ Fourteen investment funds affiliated with Fortress Investment Group on June 2 sold almost 17.6 million shares of Brookdale Senior Living (NYSE: BKD) stock, according to a recent U.S. Securities and Exchange Commission (SEC) filing. New York-based Fortress, a major shareholder since Brentwood, Tenn.-based Brookdale’s initial public offering (IPO) in late 2005, sold at an average price of $32.00 for a total transaction value of more than $563 million. Fortress co-chairman and Milwaukee Bucks co-owner Wes Edens also sold his personal stake of more than 831,000 shares for about $26.6 million. In May, Fortress announced plans to sell more than 19 million shares – almost its entire stake in Brookdale. The move comes as Brookdale, which is already the nation’s largest senior living provider, planned to close before the end of this month on a merger with Emeritus Senior Living (NYSE: ESC), resulting in a combined company operating more than 1,100 senior living communities nationwide.
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