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In an open letter to Brookdale Senior Living shareholders, Litt states that Land & Buildings, along with a leading real estate investment banking team and an attorney at a “highly regarded” REIT law firm, held a session on Nov. 28 with members of the Brookdale Board of Directors that focused on the creation of a REIT that would include Brookdale Senior Living's high-quality properties.
The portfolio consists of 36 skilled nursing facilities and two senior housing communities operated by Senior Care Centers, which just declared bankruptcy.