BRENTWOOD, Tenn. — Brookdale Senior Living (NYSE: BKD) has entered into a definitive purchase agreement with Welltower Inc. for the acquisition of 30 communities. The purchase price is $290 million.
Brookdale currently occupies and operates the properties, which total 1,152 units, on a leased basis. The company expects that the transaction will reduce 2027 annual cash rent payments by approximately $17.8 million. The leases would have otherwise matured in 2032.
Contingent upon the closing of the 30-community acquisition, Brookdale plans to extend a separate, 39-community lease with Welltower. The lease would be extended by four years, to June 2036, with annual cash rent payments of roughly $36.6 million.
“Ownership allows Brookdale to capture the full benefit of future operating growth, while reducing our long-term lease obligations,” says Nick Stengle, Brookdale’s chief executive officer. “These transactions are expected to be accretive to adjusted EBITDA and cash flow.”
The transaction is expected to close in the fourth quarter of 2026.
Brookdale stock price closed at $10.12 on Oct. 13, up from $8.74 on Oct. 14, 2025.