Brookdale Senior Living Buys Retirement Home from Ventas for $16 Million

Brookdale Senior Living recently purchased Grand Court retirement home from Ventas Realty Limited Partnership for $15.95 million, reports the Business Review.

The buyer is listed as BLC Fort Myers-GC LLC, with Chicago-based law firm Barack Ferrazzano Kirschbaum & Nagelberg LLP listed on the deed. Grand Court is a 183-unit independent living facility that features a main multi-story building surrounded by a campus of smaller cottages; amenities include multiple dining rooms, two libraries, an outdoor heated swimming bpool, game room, arts and crafts studio, woodworking shop, wellness clinic, and beauty/barber shop. It was built in 1984 on a 16.93 acre site, and has a total of 467,866 square feet.

“We already leased and operated that community,” says Ross Roadman, senior vice president of investor relations for Brookdale Senior Living. “We just bought out the landlord [an affiliate of Chicago-based Ventas Inc. (NYSE:VTR)].”

Advertisement

The purchase entity, BLC Fort Myers-GC LLC, mortgaged the property to CBRE Multifamily Capital Inc. for $32.9 million, says the Review.

Written by Alyssa Gerace

Companies featured in this article:

,