Brookdale Senior Living and real estate investment trust HCP have finalized a $1.2 billion joint venture, the firms announced. The new partnership will have 14 continuing care retirement communities in its portfolio. Under the deal, Brookdale and HCP have also amended leases on 202 HCP-owned senior housing communities previously owned by Emeritus Corporation. Brookdale concluded its $2.8 billion Emeritus purchase in July.
This article originally appeared on McKnight's