Three Gulf Coast centers sell for $123M

GULF COAST — A $1.2 billion joint venture of Brookdale Senior Living Inc. and HCP Inc. purchased three Gulf Coast continuing care retirement communities for a total of $123 million.

The joint venture, which is 51% owned by Brookdale, acquired the 746-unit Freedom Village at Bradenton for $53 million, 664-unit South Port Square and its adjacent Harbour Health Center in Port Charlotte for $34 million and the 470-unit Regency Oaks and its adjacent Sylvan Rehabilitation and Health Center in Clearwater for $36 million.

The buyer purchased the South Port Square and Regency properties from an affiliate of AEW Capital Management LP of Boston. Brookdale previously owned Freedom Village.