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Apollo Is Buying an HCP Senior-Housing Portfolio

Gillian Tan

Apollo Global Management LLC is the mystery buyer that’s under contract to purchase a $428 million portfolio from HCP Inc., according to a person with knowledge of the matter. The New York firm is buying 22 properties managed by Brookdale Senior Living Inc., said the person, who asked not to be identified because the matter is confidential. HCP said on June 5 that it was under contract to sell the portfolio, which comprises for 2,781 units, to a third party without revealing its identity.