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Brookdale Senior Living Announces Acquisitions

NASHVILLE, Tenn., Jan. 18, 2011 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) (the "Company") today announced that it has recently completed the acquisition of 12 communities with a total of 421 units for an aggregate purchase price of $31.3 million plus customary transaction expenses. The communities, which are located in Oklahoma and Texas, had previously been operated by the Company under long-term leases that were accounted for as operating leases.

Additionally, the Company announced that it has entered into a definitive asset purchase agreement to acquire two communities with a total of 108 units for an aggregate purchase price of $19.0 million plus customary transaction expenses. One of the communities is currently operated by the Company under a long-term lease that is accounted for as an operating lease. The consummation of the acquisition is subject to the satisfaction of customary closing conditions. The transaction is expected to close during the first quarter of 2011.

About Brookdale Senior Living

Brookdale Senior Living Inc. is a leading owner and operator of senior living communities throughout the United States. The Company is committed to providing an exceptional living experience through properties that are designed, purpose-built and operated to provide the highest-quality service, care and living accommodations for residents. Currently the Company owns and operates independent living, assisted living, and dementia-care communities and continuing care retirement centers, with 559 communities in 34 states and the ability to serve over 51,000 residents.

Safe Harbor

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements are subject to various risks and uncertainties and include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, all statements relating to the consummation of the two community acquisition (including the anticipated timing thereof). Words such as "expect(s)" and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. We can give no assurance that our expectations will be attained. Factors that could cause actual results to differ materially from our expectations include, but are not limited to, the risk that we may not be able to satisfy the closing conditions and successfully complete the acquisition and other risks detailed from time to time in our filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

SOURCE Brookdale Senior Living Inc.