CHICAGO, July 27 /PRNewswire-FirstCall/ -- Brookdale Senior Living Inc. announced today that it completed the acquisition of 5 owned and 5 leasehold facilities from American Senior Living L.P. for $51.1 million. The Company funded the acquisition with approximately $33 million of first mortgage debt against the assets.
The acquisition is comprised of 10 facilities with independent living, assisted living and memory care units. The portfolio contains a total of 852 units/beds and is located throughout Alabama, California, Delaware, Florida, Louisiana, Ohio, Tennessee, Virginia and Washington. This acquisition was previously announced as part of an 18 facility portfolio on January 12, 2006, although at that time all 10 of these properties were anticipated to be leasehold interests.
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, dementia-care and continuing care retirement facilities, with the ability to serve approximately 51,000 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 management's 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 Brookdale's 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 Brookdale's 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 Company's 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/.
