3 Firms Guide Brookdale, Ventas Lease Restructuring Deal

By McCord Pagan (July 27, 2020, 6:25 PM EDT) -- Brookdale Senior Living and real estate investment trust Ventas said Monday they've struck a multi-faceted deal that includes a $500 million rent reduction for Brookdale and sees the transfer of five properties to the REIT, a move shaped by three law firms.

Nashville, Tennessee-based Brookdale Senior Living Inc. and Chicago-headquartered Ventas Inc. said in separate statements that the restructuring of the master lease arrangements for about 120 communities of more than 10,000 units is meant to help address the impact of the COVID-19 pandemic on the senior living industry.

"These agreements represent a significant step forward toward improving our long-term financial...

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