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HCP Announces $849 Million Acquisition of Private Pay Senior Housing Portfolio
- Client News
- March 17, 2015
Paul, Weiss client HCP, Inc. announced that it has entered into a definitive agreement to acquire from Chartwell Retirement Residences a portfolio of private pay senior housing communities for $849 million. The portfolio will be acquired using a RIDEA joint venture structure formed by HCP in which Brookdale Senior Living will own a 10 percent interest.
The Paul, Weiss team included corporate partner Robert Schumer; real estate partners Harris Freidus and Salvatore Gogliormella; tax partner Scott Sontag; antitrust counsels Didier Malaquin and Marta Kelly; intellectual property counsel Claudine Meredith-Goujon; employee benefits counsel Erin Murphy; and environmental counsel William O'Brien.