Brookdale Senior Living has sold three continuing care retirement communities in Arizona, Ohio and South Carolina to Frontline Management.
Frontline snatched up the properties — with a total of 782 units across skilled nursing, memory care, assisted living and independent living — in a joint effort with Onelife Investments.
The purchase price was not disclosed.
Brookdale Easley is now Easley Place; Brookdale Richmond Heights is now Richmond Heights Place and Brookdale North Chandler is now North Chandler Place.
“We believe in the value of the CCRC model and feel that the span of services offered is a great benefit to our current and prospective customers,” Robert Jones, president and COO of Frontline Management, said in a press release.
Chief Investment Officer Mohammed Yacoubi said the portfolio purchase “falls in line with our long-term strategic goals moving forward, and we will continue to seek similar opportunities of scale.”
Established in 2004, Frontline Management is based in Lafayette, CO, and owns, operates and/or manages a growing portfolio of senior housing and care communities across all licensure categories including skilled nursing, assisted living, memory care, independent living and home health.
