RouterNinja's Dojo

A stroll down the path of Nerdlighenment.

Brookdale Enters Into Mutually-Beneficial Agreements With Hcp

“We are pleased to conclude beneficial agreements with Brookdale on the financial impact of COVID 19`s unprecedented pandemic on our senior communities,” said Debra A. Cafaro, President and Chief Executive Officer of Ventas. “The agreements we are announcing today benefit both companies by providing security, flexibility and the ability to raise Ventas shareholders, improving Brookdale`s stability and liquidity, and creating the most favourable environment for brookdale to manage our communities safely and productively,” she added. Brookdale announces a multi-part transaction with ventas 10.1 FIRST AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND OTHER CREDIT DOCUMENTS THIS FIRST AMENDMENT TO FIFTH AMENDED AND RESTated CREDIT AGREEMENT AND OTHER CREDIT DOCUMENTS (this “Amendment”), August 2019 (effective date) of and under CAPITAL, “CONA” and HCP acquire Brookdale`s 51 per cent remaining interest in 12 start-up costs CCRCs with 5,641 units for $510 million , which will be closed in the first quarter of 2020 under normal closing conditions. HCP and Brookdale also agreed to terminate the management contracts for the 12 CCRCs, with HCP paying $100 million in termination fees to Brookdale. Ventas, Inc. (with its subsidiaries, unless otherwise stated or unless the context requires something else, “Ventas” or “company”), a real estate investment trust with a very diversified portfolio of senior real estate, research and innovation and health in the United States, Canada and the United Kingdom. As of March 31, 2020, ventas owned approximately 1,200 properties (including for sale as real estate), consisting of elderly communities, medical offices, research and innovation centres, rehabilitation and long-term care hospitals and health systems. Through the Lillibridge subsidiary, Ventas provides management, leasing, marketing, facility development and consulting services to highly rated hospitals and healthcare systems in the United States.

For more information about Ventas and Lillibridge, see www.ventasreit.com and www.lillibridge.com.

December 4, 2020 - Posted by | Uncategorized

Sorry, the comment form is closed at this time.