Diversified Healthcare Trust (Nasdaq: DHC) has announced a purchase and sale agreement with Brookdale Senior Living Inc. (NYSE: BKD) for the acquisition of 18 triple net leased senior living communities for $135 million. Brookdale has leased and operated these communities, including the Brookdale Littleton at 8271 S. Continental Divide Road, since February 2003.
The 18 communities, featuring a total of 876 units across 10 states, primarily serve assisted living and memory care residents. DHC plans to use the proceeds from the transaction to reduce its $941 million of senior secured notes that are due in January 2026.
The properties being acquired by Brentwood, Tenn.-based Brookdale include:
Address | City | State | Year Built | Living Units
14001 W. Meeker Boulevard | Sun City West | AZ | 1998 | 46
8271 South Continental Divide Road | Littleton | CO | 1998 | 50
1416 Country Club Blvd. | Cape Coral | FL | 1998 | 42
17441 State Road 23 | South Bend | IN | 1998 | 42
4004 & 4012 Waldo Road | Midland | MI | 1998 | 37
1605 & 1615 Fredericks Drive | Monroe | MI | 1998 | 38
3150 & 3100 Old Centre Road | Portage | MI | 1998 | 93
720 & 734 N. Pine Road | Bay City | MI | 1998 | 38
2445 & 2485 Mc Carty Road | Saginaw | MI | 1998 | 38
1365 Crestridge Lane | Eagan | MN | 1998 | 46
305 & 315 Thompson Avenue | West St. Paul | MN | 1998 | 38
2220 & 2230 Farmington Drive | Chapel Hill | NC | 1996 | 92
5300 Old William Penn Highway | Murrysville | PA | 1998 | 34
7151 Saltsburg Road | Penn Hills | PA | 1997 | 24
1920 Ebenezer Road | Rock Hill | SC | 1998 | 41
251 Springtree Drive | Columbia | SC | 1998 | 41
511 Pearson Springs Road | Maryville | TN | 1998 | 92
2025 Caldwell Drive | Goodlettsville | TN | 1998 | 44
The transaction is expected to close in the fourth quarter of 2024, pending customary closing conditions.