Brentwood-based Brookdale Senior Living Inc. (NYSE: BKD) announced Wednesday it has reached an agreement with a third party to sell 44 communities for $252.5 million. NASHVILLE, Tenn., July 27, 2016 /PRNewswire/ -- Brookdale Senior Living Inc. today announced that it has entered into an agreement with a third party to sell 44 communities for an aggregate. The community was slated to open in the first quarter of 2020 but was delayed due to the pandemic. Monday isnt the first time rumors have swirled around a sale of Brookdales home health and hospice operations. Since the beginning of 2018, the company has sold or ended leases for 118 communities containing more than 11,000 units. Truist Securities acted as exclusive financial advisor to HCA Healthcare in connection with this transaction. William Blair analyst Matt Larew said during HHCNs Capital+Strategy event, How Immigration Adjustments Could Alter The Entire Home-Based Care Landscape, A Look Behind The Curtain At April Anthonys New Home Health Company, VitalCaring, HHCN+ Report: The Pros and Cons of Certificate of Need Regulations in Home Health Care, Electronic Visit Verifications Bumpy Rollout In Home-Based Care Continues, How Home Health Providers Can Prepare For The Survey Processes, Home-Based Cardiac Rehab Led To A 36% Lower Likelihood Of Death, Study Shows, Paving the Path for Staffing Certainty Actionable Strategies for Executives, Home-Based Care Growth Plans and Financial Health. Based on 1 salaries posted anonymously by Brookdale Senior Living Real Estate Manager employees in Moorpark, CA. Likewise, its home health revenues had been down. I think Encompass Health has done a really nice job.. We are pleased to continue our portfolio rationalization initiative to simplify our business model and divest communities that do not fit with our strategy, Smith said in a press release. This Oakview tudor-inspired colonial combines all the convenience of mo. The Brentwood, Tennessee-based aging services operator which offers home health, hospice and outpatient therapy services to over 17,000 patients nationwide is reportedly being provided with guidance by Bank of America and exploring various options. Over 675 senior living communities in 41 states. NHI's portfolio consists of independent, assisted and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitals.. 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Andy Smith, Brookdale's President and CEO, said, "We are pleased to continue our portfolio rationalization initiative to simplify our business model and divest communities that do not fit with our strategy. No final decision has been made and Brookdale could remain independent. For Sale: 3 beds, 2.5 baths 108 Demarest Ave, Bloomfield, NJ 07003 $599,000 MLS# 23005979 Seller relocating for work! In the first few months of 2018, the company lost more than $450 million. Lot Area: 0.44 acres. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements in such SEC filings. Jessica.hazel@brookdale.com. The communities revenue for the 12 months that ended March 31 was approximately $89 million, with an average occupancy of 79 percent for the first quarter of 2016. The portfolio communities' revenue for the twelve months ended March 31, 2016 was approximately $89 million, and the portfolio's average occupancy for the first quarter of 2016 was 79%. Brookdale Enters into Agreement to Sell 44 Communities, http://www.prnewswire.com/news-releases/brookdale-enters-into-agreement-to-sell-44-communities-300305221.html. Brookdale North Gilbert is a big assisted living facility located in Gilbert, AZ. BHS also offers a range of home health, hospice and outpatient therapy services to over 17,000 patients as of that date. The company estimated that $71 million was lost in revenue in Q3 due to COVID-19. According to a press release, the company handed over 40 managed communities to new operators. Responsibilities Oversees and directs the sales efforts for multiple communities and products within district, major markets, networks and stand-alone communities. We are looking for some great "weekend warriors" to fill our weekend shifts. to send you the requested email alert updates and you agree to our privacy policy, which can be The company may seek a private equity-backed, a strategic buyer or a combination of the two, according to a report by PE Hub. Steps to Help Small Seniors Housing Owners Prepare for a Sale, Webinar: Let's Talk About the Outlook for Seniors Housing Investment and Finance, Five Trends Driving Seniors Housing Design in 2023, Cornell Institute for Healthy Futures Plans Symposium, New Jersey Tightens Workplace Vaccine Requirements for Healthcare, High-Risk Congregate, After 18 Months, Seniors Housing Operators More Adept at Handling, New Supply Puts Brakes on Occupancy Recovery in Private-Pay Seniors, "Multifamily News for Seniors Housing Business", Southeast Multifamily & Affordable Housing Business, Texas Multifamily & Affordable Housing Business, Western Multifamily & Affordable Housing Business, Midwest Multifamily & Affordable Housing Business, Northeast Multifamily & Affordable Housing Business. Brookdale's stock is traded on the New York Stock Exchange under the ticker symbol BKD. The cost at this community starts at $4,046, while the average cost for a senior living community in Gilbert, AZ is $3,800. Clear skies. If hes not in the newsroom, Tim likes to be on the tennis court or traveling to a new destination. Privacy Policy and View our complete range of New Age Road Owl RO19BE Comfort MY22 caravans, campers, motorhomes and RVs for sale throughout Australia Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "could," "would," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "believe," "project," "predict," "continue," "plan," "target," or other similar words or expressions. Those pressures could feasibly be made up, in part, through a home health and hospice business sale when valuations remain at jaw-dropping highs. The EEOC enforces federal laws prohibiting employment discrimination. The transaction comes as Smith and his colleagues have been touting a new phase in the integration of Emeritus. Brookdale has agreed to sell 80% of the equity in BHS to HCA Healthcare for a purchase price of $400 million, which implies a $500 million value for BHS, Brookdale's home health, hospice, and outpatient therapy segment Brookdale will retain a 20% equity interest in the venture with HCA Healthcare who collaborates with us to provide the email alerts. NASHVILLE, Tenn. Brookdale Senior Living Inc. (NYSE: BKD) has agreed to sell 44 of its seniors housing communities for a total sales price of $252.5 million. Factors which could have a material adverse effect on Brookdale's operations and future prospects or which could cause events or circumstances to differ from the forward-looking statements include, but are not limited to, the risk that conditions to the closing of the Transaction may not be satisfied, including due to Brookdale's or HCA Healthcare's inability to satisfy the closing conditions or industry, regulatory or economic conditions outside of Brookdale's control, including those related to the ongoing COVID-19 pandemic and, if those conditions are neither satisfied nor, where permissible, waived on a timely basis, Brookdale may be unable to complete the Transaction, or the Transaction may be delayed or completed on terms that are less favorable, perhaps materially, to Brookdale than the terms currently contemplated; the risk that if the Transaction is delayed or not completed for any reason, investor confidence could decline, Brookdale could face negative publicity and possible litigation, and Brookdale's business, results of operations, financial condition, cash flows and stock price may be adversely affected; and the risks detailed from time to time in Brookdale's filings with the Securities and Exchange Commission ("SEC"), including those set forth its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Home Health Care News (HHCN) is the leading source for news and information covering the home health industry. These forward-looking statements reflect management's views as of the date of this press release, and the Company expressly disclaims any obligation to release publicly any updates or revisions to any of these forward-looking statements to reflect any change in its expectations. The Company operates and manages 695 communities in 42 states as of March 31, 2021, with the ability to serve approximately 60,000 residents and 16,000 patients. If you are using a screen reader and having difficulty,please call (844) 327-3441. Today's partnership with HCA Healthcare, a leading healthcare organization, will continue the high quality services delivered to our residents and patients, strengthen our liquidity position and provide meaningful opportunities for growth through better integration of services across the entire care continuum. Sorry, there are no recent results for popular videos. Brookdale Senior Living Inc. has restructured the master lease for 120 of its communities that will save the Brentwood-based company approximately $500 million over the next five . July 20, 2023 Washington, D.C. Occupancy woes, community-level staff turnover, and other issues have plagued Brookdale since the Emeritus deal, contributing to sliding share prices and shareholder discontentactivists at one point last year pressed Brookdale to spin off its owned real estate into a real estate investment trust (REIT) to help unlock share value.