Brookdale Announces Third Quarter 2019 Results
NASHVILLE, Tenn. , Nov. 4, 2019 |PRNewswire| -- Brookdale Senior Living Inc. (NYSE: BKD ) ("Brookdale" or the "Company") announced results for the quarter ended September 30, 2019. THIRD QUARTER 2019 HIGHLIGHTS Same community weighted average occupancy improved 70 basis points on a sequential basis, more than double the industry's increase. Both same community Independent Living and Assisted Living and Memory Care exceeded the industry's occupancy increase on a sequential basis. Revenue per available unit (RevPAR) and revenue per occupied unit (RevPOR) increased year-over-year 1.8% and 2.8%, respectively, on a same community basis. Positive year-over-year same community move-in growth continued for a second consecutive quarter. Refinanced the majority of the first half 2020 debt maturities, reducing annual interest expense by approximately $2.5 million . On October 1 st , entered into mutually-beneficial agreements with HCP, Inc. (now known as Healthpeak Properties, Inc.) ("HCP") which will unlock the value of the Company's unconsolidated CCRC Venture, increase the size of the Company's owned real estate portfolio, and reduce complexity of operations.
Brookdale Announces Third Quarter 2019 Results
NASHVILLE, Tenn. , Nov. 4, 2019 |PRNewswire| -- Brookdale Senior Living Inc. (NYSE: BKD ) ("Brookdale" or the "Company") announced results for the quarter ended September 30, 2019. THIRD QUARTER 2019 HIGHLIGHTS Same community weighted average occupancy improved 70 basis points on a sequential basis, more than double the industry's increase. Both same community Independent Living and Assisted Living and Memory Care exceeded the industry's occupancy increase on a sequential basis. Revenue per available unit (RevPAR) and revenue per occupied unit (RevPOR) increased year-over-year 1.8% and 2.8%, respectively, on a same community basis. Positive year-over-year same community move-in growth continued for a second consecutive quarter. Refinanced the majority of the first half 2020 debt maturities, reducing annual interest expense by approximately $2.5 million . On October 1 st , entered into mutually-beneficial agreements with HCP, Inc. (now known as Healthpeak Properties, Inc.) ("HCP") which will unlock the value of the Company's unconsolidated CCRC Venture, increase the size of the Company's owned real estate portfolio, and reduce complexity of operations.