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NEWPORT BEACH, CA-Nationwide Health Properties Inc. andChicago-based Brookdale Senior Living Inc. have struck a deal forNationwide to sell 30 properties comprising 1,476 units in eightstates to Brookdale for $148.6 million. Nationwide, a REIT thatspecializes in healthcare properties, now leases the properties toBrookdale for annual rent that totals about $10 million.
Part of Nationwide's strategy in the deal is to apply theproceeds of the sale, which will be about $78 million, towardapproximately $260 million of previously announced acquisitionsthat are slated to close in the fourth quarter. The $78 million inproceeds will be used to fund the equity portion of theacquisitions.
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