Brookdale and HCP close $1.2B JV

• The $1.2B joint venture will initially own a portfolio of 14 entry fee continuing care retirement communities, with NASDAQ:HCP investing $324M of cash into the JV. Brookdale (BKD) will continue to manage the communities.
• In addition, the two closed on amendments to the triple-net leases on 202 HCP-owned senior housing communities formerly operated by Emeritus Corporation (which Brookdale acquired in July).
• Source: Press Release