Brookdale Acquires Houston Senior Living Community for $23.4 Million

Brookdale Senior Living Inc. has completed the acquisition of a 244-unit senior living community in Houston, Texas, the company announced. The purchase price for the Brookdale Galleria community was $23.4 million.

The community offers both independent living and assisted living services and is located adjacent to the Galleria shopping and entertainment complex. Brookdale stated the acquisition strengthens its position in a key market and is expected to increase its consolidated operating income and Adjusted EBITDA.

The transaction aligns with Brookdale's capital allocation strategy of acquiring high-quality communities within its existing geographic footprint. The acquisition was funded through cash on hand and the company's expanded line of credit.

"This large high-rise community sits within the top-tier Galleria district of Houston," said Brookdale CEO Nick Stengle. "Current occupancy is below our consolidated average, and we believe we can reposition this asset through modest additional investment... to capture the economic potential that will accrue directly to Brookdale and its shareholders."