Brookdale Senior Living Acquires Remaining Interest in Three Communities

Brookdale Senior Living Inc. (NYSE: BKD) (the "Company") announced that it has completed the acquisition of three retirement center communities that it had previously managed. The aggregate purchase price for the communities was $102 million plus customary transaction expenses. Brookdale had previously owned a minority, though non-financial, interest in the communities, whose financial results were not included in the Company’s financial statements, except for management fees.

The portfolio of three communities is comprised of 642 total units, including 506 independent living units and 136 assisted living units. For the nine months ended September 30, 2009, the three communities generated total revenues of approximately $18.1 million. The average unit occupancy for the third quarter of 2009 was approximately 92.1% for the portfolio.  The Company financed the transaction by obtaining a $75.4 million mortgage loan from Fannie Mae, with the balance of the purchase price paid from cash on hand. The mortgage debt has a 10 year term and bears interest at a fixed rate of 6.1%.