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Blackstone to Buy 64 Brookdale Senior Living Assets from HCP for $1.1 Billion

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HCP Inc. (NYSE:HCP) has agreed to sell a portfolio of 64 properties totaling 5,967 housing units leased to Brookdale Senior Living Inc. (NYSE: BKD) to affiliates of Blackstone Real Estate Partners VIII L.P. for $1.125 billion, or $189,000 per unit.

The planned sale is the largest in a flurry of announcements Tuesday involving Irvine, CA-based HCP and Brookdale, HCP’s major tenant and the largest seniors living operator in the U.S. HCP expects to…

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