NASHVILLE, Tenn. (AP) -- Brookdale Senior Living Inc. said Tuesday that it completed its $162.1 million acquisition of 12 communities.
The company previously operated the communities under long-term leases. Brookdale said the deal is modestly accretive because it is replacing increasing lease costs with mortgages at current low interest rates.
Brookdale, based in Nashville, Tenn., operates 647 senior living communities throughout the U.S.
Shares of the company rose 13 cents to $26.90 in afternoon trading. The stock has ranged from $14.99 to $26.91 in the past 52 weeks.