Revenue estimates for Brookdale Senior Living Inc (BKD) have declined from $3.26 billion to $3.21 billion for the full year 2025 and increased from $3.05 billion to $3.10 billion for 2026 over the past 90 days Earnings estimates have increased from -$0.63 per share to -$0.58 per share for the full year 2025 and increased from -$0.57 per share to -$0.51 per share for 2026 over the past 90 days Brookdale Senior Living Inc's (BKD) actual revenue was $780.95 million which missed analysts' revenue expectations of $781.78 million by -0.11% Brookdale Senior Living Inc's (BKD) actual earnings were -$0.37 per share which missed analysts' earnings expectations of -$0.21 per share by -76.19% Brookdale Senior Living Inc (BKD) was up by 2.64% in one day Based on the one-year price targets offered by 6 analysts the average target price for Brookdale Senior Living Inc (BKD) is $7.00 with a high estimate of $8.00 and a low estimate of $5.00 The average target implies an upside of 6.38% from the current price of $6.58 Based on GuruFocus estimates, the estimated GF Value for Brookdale Senior Living Inc (BKD, Financial) in one year is $5.11 suggesting a downside of -22.34% from the current price of $6.58 Based on the consensus recommendation from 6 brokerage firms, Brookdale Senior Living Inc's (BKD, Financial) average brokerage recommendation is currently 2.7 is designed to provide general insights and is not tailored financial advice Our commentary is rooted in historical data and analyst projections and is not intended to serve as specific investment guidance It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances Be aware that our analysis might not incorporate the most recent price-sensitive company announcements or qualitative information GuruFocus holds no position in the stocks mentioned herein Brookdale Community College welcomed mayors and local officials from the greater Monmouth County area to its inaugural President’s Summit of Monmouth Mayors a signature event celebrating New Jersey Local Government Week and National Community College Month provided a dynamic platform for collaboration between the College and municipalities across Monmouth County spotlighting shared opportunities to build stronger “This summit is about building stronger bridges between Brookdale and the communities we serve,” said President Stout we can address the challenges our towns face and create new opportunities for residents across Monmouth County.” The program opened with welcome remarks from Monmouth County Commissioner Director Thomas A Arnone and NJ Conference of Mayors President Mayor Robert Conley with a special video address from Mayor Ricardo Rio of Braga the voices of mayors are being heard on a global stage,” said Rio “Through international partnerships and local solutions Commissioner Arnone emphasized the value of smart investment and collaboration “Brookdale isn’t just the number one community college in New Jersey it’s an essential part of what makes Monmouth County such a desirable place to live and work,” he said “Our commitment to supporting the College with resources and partnerships is an investment in the future of our workforce Brookdale’s leadership team then presented four key initiatives for municipal collaboration: Securing Your City’s Future: Led by Professor Mike Qaissaunee and NJ Chief Information Security Officer Michael T this session highlighted urgent threats to municipal data and the training Brookdale provides to prepare the next generation of cybersecurity professionals “Most local governments don’t have the resources to defend against cyber threats on their own,” said Geraghty and expert guidance to help municipalities protect their systems and recover quickly Director of Brookdale’s Small Business Development Center (SBDC) emphasized the importance of supporting small business creation and growth at the local level we offer one-on-one confidential business counseling and pitch competitions to help startups and existing businesses thrive.” the center helped launch approximately 100 new businesses annually and provided over $10 million in capital infusion to local companies These services have not only fueled economic growth but also helped preserve and create jobs across Monmouth and Ocean counties Executive Director of Continuing & Professional Studies discussed Brookdale’s robust offerings in job training “What makes us unique is our ability to customize training programs to meet the specific needs of any business or municipality,” said Pagano “Whether it’s basic computer skills we can build a program tailored to your team we have access to expert faculty across so many fields—and that allows us to design high-impact learning experiences that drive results.” Developing the Next Municipal Workforce: Interim Dean Jill Donovan showcased Brookdale’s internship and civic engagement programs that connect students with real-world public service opportunities “We have programs that are designed for transfer and then programs that are designed to get students right into the career,” said Donovan “Every single student that goes here can benefit from an internship we’re not just preparing students for jobs we’re preparing them to serve their communities Whether it’s through internships in local government we’re helping students see a future in public service Mayors can take this message back home: the next generation of your municipal workforce is already here—and we’re ready to connect you with them.” Brookdale’s student body was represented by Student Life Board President Montez Schwartz who shared his path to Brookdale and recent acceptance into The College of New Jersey public policy program “Brookdale students are everywhere working Your continued support of this institution makes that possible.” “Every dollar invested in Brookdale goes back into the community many times over because community colleges are economic engines for the county,” said President Stout “The dollars invested here help create jobs that feed the economy.” The event concluded with a group visit to Brookdale’s award-winning Esports Arena which is open to the public and offered a glimpse into how the college is preparing students for high-tech careers in gaming Executive Director of Governmental Affairs and Community Relations Ed Johnson “No partnership is too big or too small Today was about planting seeds for lasting local solutions—and this is just the beginning.” Brookdale plans to make the President’s Summit of Monmouth Mayors an annual tradition GET STARTED FIND MY PATH There’s something magical about welcoming young students to a college campus—especially when the day is filled with inspiration a recent celebration co-hosted by the STEM Institute and the Center for Transformative Learning invited over 75 elementary school students from Gregory Elementary and Long Branch Public Schools to experience a day designed to spark imagination and possibility Affectionately known as “Brookies,” the visiting students were immersed in hands-on learning across campus The event kicked off at the Caroline Huber Holistic Wellness Center where students explored affirmations and built a positive mindset toward math and learning Teachers from Long Branch were thrilled to reconnect with former students—now Brookdale faculty—and elementary staff lit up when they recognized their own former students as Brookdale ambassadors At a time in life when students are beginning to consider who they are and who they might become experiences like this plant powerful seeds They allow children to imagine themselves in a college environment and to see that learning isn’t just something you do—it’s something you love Brookdale’s ongoing commitment to early outreach shows that one day can make a lifelong difference the college is helping to shape not just future scholars—but future possibilities Brookdale Community College proudly announces the launch of its Alternate Route to Teaching P-3 Program non-credit certification pathway for aspiring preschool through third-grade educators in New Jersey Designed as a cost-effective and accessible alternative to traditional master’s degree programs the new program enables candidates to earn a state-approved teaching certification while actively working in the classroom At a time when New Jersey is facing a critical shortage of certified educators Brookdale’s initiative provides a timely and impactful solution by preparing qualified teachers to meet the developmental and academic needs of the state’s youngest learners The program’s robust curriculum is deeply rooted in early childhood education and emphasizes play-based learning and foundational math instruction—offering four courses focused on literacy and two dedicated to mathematics “Our goal is to provide an accessible and high-quality certification pathway that supports both educators and the students they serve,” said Karin Swan research-based instruction with real-world classroom experience we are equipping the next generation of P-3 teachers with the tools they need to strengthen early literacy and math skills across the state.” Brookdale’s P-3 Alternate Route to Teaching (ART) program is a 500-hour Educator Preparation Program regulated by the New Jersey Department of Education (NJDOE) The program is open to individuals who hold a bachelor’s degree and a Certificate of Eligibility (CE) or Limited CE the ART program blends live virtual instruction with asynchronous assignments and in-classroom teaching experience Coursework is divided across three years and includes key topics such as special education Brookdale started offering its K-12 ART pathway in 2019 and has been nationally accredited by the Association for Advancing Quality in Educator Preparation (AAQEP) since 2024 helping to train hundreds of certified educators The expansion into early childhood certification strengthens Brookdale’s ongoing mission to provide flexible and research-informed programs that meet the needs of both schools and communities candidates must first complete a 50-hour Introduction to Teaching course then secure a full-time or part-time P-3 teaching position with district sponsorship Program completion requires passing grades in all coursework effective or highly effective district evaluations and participation in video-based classroom observation and feedback For more information about eligibility, course registration, or upcoming start dates, prospective candidates can contact kswan@brookdalecc.edu or visit brookdalecc.edu Brookdale’s new P-3 program reflects a continued investment in high-quality teacher preparation and a commitment to supporting New Jersey’s educational workforce—one classroom at a time Brookdale Community College Automotive Technology students proudly returned the fully restored 1966 Chrysler Newport police car to the Union Beach Police Department — just in time for the town’s 100th anniversary parade this July What began as a challenging mechanical project grew into something much larger: a labor of love and an inspiring example of student excellence and community collaboration affectionately nicknamed “Christine” and newly designated TC31 honors the late Detective Corporal Tim Kelly a beloved member of the Union Beach Police Department It will serve as a moving tribute to his service every time it rolls down the streets of Union Beach “This project was about so much more than just restoring a car,” said George Poosikian Brookdale Automotive faculty member and project leader “We went through it soup to nuts — new brake lines and a rebuilt 303 engine with a four-barrel carburetor breathing representation of a 1966 police vehicle But real pride comes from seeing the growth of the students their teamwork — it’s been amazing to watch.” The journey began when the Union Beach Police Department’s vintage car broke down during a ceremonial funeral parade Chief Michael Woodrow reached out to Brookdale’s Automotive Department to bring it back to life — and the students enthusiastically rose to the challenge speaking during the ceremonial turnover at Brookdale’s Automotive Technology Center “On behalf of the men and women of the Union Beach Police Department The craftsmanship and care poured into this project are incredible,” Woodrow said “Every time this car appears at a community event it will honor the spirit and service of Detective Corporal Tim Kelly — his memory will never be forgotten.” Students Steven Malo and Bishes Mulcherjee volunteered every Saturday for over seven months and were instrumental in the restoration “Restoring the Chrysler Newport gave me a deeper appreciation for the engineering behind classic cars,” said Bishes “Finding the right parts and ensuring everything is restored with precision has been a test of patience and attention to detail.” Stephen added his personal connection to the project describing how his passion for vintage American cars and family traditions fueled his excitement “Being a part of this restoration felt like living a dream,” he shared “It’s about preserving a piece of American automotive and local history — and being part of something that will last.” I’m proud to say that this car was built here at Brookdale.” The restored vehicle — featuring its original 383 V8 engine and vintage suspension — now stands as a symbol of pride for both Brookdale and Union Beach Chief Woodrow drove the car back to Union Beach The public will get their first chance to see the restored 1966 Union Beach police cruiser at the town’s Centennial Celebration parade this July — a fitting tribute to the past powered by the next generation of automotive technicians Photo attached left to right Chief of Police Michael Woodrow George Poosikian and STEM Institute Dean Dr For more information about Brookdale’s Automotive Technology Program, visit brookdalecc.edu. Brookdale Community College student Arthur Fumarola was named a finalist for the Jack Kent Cooke Foundation’s Undergraduate Transfer Scholarship one of the nation’s most prestigious and competitive awards for community college students 467 semifinalists were selected from more than 1,600 applicants representing 212 community colleges across 43 states The Cooke Undergraduate Transfer Scholarship provides up to $55,000 annually to help high-achieving community college students with financial need transfer to top four-year institutions and complete their bachelor’s degrees the scholarship includes personalized advising and access to a network of over 3,400 Cooke Scholars and alumni is a standout member of Brookdale’s S-STEM Scholars Program and currently interns with NASA His research focuses on how solar eclipses affect radio wave transmission particularly how changes in the ionosphere can impact shortwave communication “My project goal is to understand how the ionosphere behaves differently during eclipses,” he explained Fumarola is active in campus life as vice president of the STEM Student Lectures and Research Club a member of the Engineering Student Association and a participant in the National Society of Leadership and Success (NSLS) Fumarola emphasized the significance of his NASA internship noting that his research project closely aligns with his future aspirations He also cited a quote by actor Matthew McConaughey: “My hero is always 10 years away ’cause that keeps me with somebody to keep on chasing.” For Arthur the quote reflects his mindset of continual growth and his drive to achieve even greater things in life It was a class day unlike any other for students in Professor Micah Rasmussen’s American National Government course at Brookdale Community College New Jersey Governor Phil Murphy stepped into the classroom transforming a typical lesson into a memorable exchange on civic leadership and the responsibilities of public service Students and the Governor engaged in a spirited and wide-ranging discussion that touched on the heart of the semester’s curriculum—real-world governance Topics included the Governor’s constitutional powers to issue pardons and commutations his role in nominating judges to the New Jersey Supreme Court and the intricacies of crafting his final state budget as students asked about congestion pricing and the future of NJ TRANSIT and climate impacts on the New Jersey coast “One student told me afterward that she was shaking—she was so moved by the chance to ask the Governor her own question and have him really listen,” said Rasmussen Governor Murphy later shared his reflections online posting on X (formerly Twitter): “Inspiring morning at Brookdale Community College speaking with students in Professor Micah Rasmussen’s American National Government course New Jersey’s top-notch colleges and educators are shaping our nation’s next generation of public servants.” a former press secretary to Governor James E McGreevey and a longtime adjunct instructor at Brookdale the visit bridged his professional past with the students’ futures Rasmussen serves as director of the Rebovich Institute for New Jersey Politics at Rider University and brings a wealth of firsthand political experience to the classroom “This was a terrific experience for our students,” Rasmussen said “It brought their studies to life in a way that only firsthand interaction can I’m deeply grateful to Governor Murphy for taking the time to inspire and challenge the next generation of leaders.” As our nation prepares to mark America 250—the 250th anniversary of the signing of the Declaration of Independence—Brookdale proudly joins in this historic reflection through Civility Week 2025 themed: Produced by the Student Development Committee of Governance and the Center for Transformative Learning we’re partnering with National Voter Education Week which takes place during Civility Week and Monmouth 250 honoring our community’s rich Revolutionary War history This includes celebrating our college’s very own connection to the cause of liberty through our mascot: The Jersey Blues were one of the oldest regiments in American military history first organized in 1673 and reformed for the Continental Army during the American Revolution They were made up of New Jersey soldiers who fought bravely for independence—ordinary people who believed in extraordinary ideals Brookdale adopted the Jersey Blues name to honor that legacy of civic courage https://linktr.ee/CivilityWeekBrookdale At the third annual TEDx Brookdale Community College event themed “Full of Awe: Moments that Transform,” Brookdale music student Joseph Toto delivered a piano performance as the featured intermission entertainment Held in the intimate Black Box Theater of the Performing Arts Center Toto’s performance added a moment of reflection and emotional depth to the day’s thought-provoking presentations He performed a dynamic and moving selection of works Bach’s Prelude and Fugue in b-flat minor and two Schubert/Liszt arrangements: Der Doppelgänger and Ständchen the TEDx appearance was just one highlight in a year filled with personal and artistic milestones An aspiring classical pianist and composer from Freehold Joseph Toto has been studying piano for over 13 years and composing for the past three “I aspire to achieve virtuosity in my playing and emotional depth in my compositions,” Toto said He shows his dedication to both skill and emotion in music through his daily practice and growing repertoire “I continue to practice for many hours a day and I am working very hard to improve my skills After graduating from Manalapan High School, Joseph enrolled in the music program at Brookdale Community College where he quickly became a regular performer in campus concerts He also took the stage at Steinway Hall in New York City showcasing his talent with challenging pieces like Chopin’s Octave Etude and Liszt’s Transcendental Etude No.11 “Harmonies du Soir.” At Brookdale Joseph is also a proud member of Phi Theta Kappa and the National Society of Leadership and Success Joseph’s musical development has been shaped by esteemed instructors beginning with Sandy Callahan at Freehold Music Center and continuing with Dr Cory Hall of BachScholar and the Well-Rounded-Pianist a doctoral candidate at the Manhattan School of Music and faculty member at Hoff-Barthelson Music School and takes composition lessons with Jee Won Kim a doctoral candidate at Indiana University Jacobs School of Music Joseph announced his acceptance into the Manhattan School of Music where he will pursue a Bachelor of Music in Classical Composition From part-time student to published author Joan Ross Raleigh proves it’s never too late to follow your dreams Brookdale Community College alumna Joan Ross Raleigh has published her first romance novel under the pen name Joan Esser the book was released by The Wild Rose Press and has already earned distinction as a finalist in the New Jersey Romance Writers’ prestigious Golden Leaf Contest in two categories—Contemporary Romance and First Book Joan’s path to authorship didn’t follow the traditional route She began her studies at Brookdale in her forties while working full-time taking one course at a time and graduating with honors nearly eight years later “While I was not the typical college student than it enriched any teenager,” she shared A generous tuition reimbursement program at her job made it possible for her to continue—she paid only for her first class drawn to the written word and its power to move people emotionally “I wanted to have the ability to make readers laugh Two journalism courses at Brookdale led her to a role as a part-time stringer for the Asbury Park Press she was given a tour of the newsroom by editor Jody Calendar—wife of former popular professor and administrator Dr Jody made a lasting impression when she emphasized that local issues could be just as impactful as national news by the rooster next door can attest to that,” Joan recalled Those early reporting experiences helped Joan land an editorial role for her company’s internal newsletter profiling employees and chronicling the company’s 75-year history She joined the Monmouth Writers Group and later the New Jersey Romance Writers where she found her creative community and began learning the structure and emotional depth that define the romance genre Although it took several attempts and years of dedication The Marriage Matrix follows a marriage-minded scientist whose plans are upended by a charming detective The book’s success has taken Joan full circle she gave a talk about her novel and her writing process to the ChitChat group in her local community crediting the public speaking skills she developed at Brookdale Joan remains deeply grateful for her time at Brookdale and credits the college with giving her the foundation to pursue her writing career and I have fond memories of my classes and teachers Brookdale put me on the path to becoming a novelist.” The The Marriage Matrix is available at Amazon (Kindle) Brings Significant Healthcare and Private Capital Investing Expertise including in Facilities-Based and Senior Care Services Companies Company's Average Director Tenure to be Less Than Four Years after Annual Meeting NASHVILLE, Tenn., April 24, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") today announced that its Board of Directors (the "Board") has appointed Joshua Hausman Managing Partner at MHJ Capital Partners and former Managing Director at Onex Partners Interim Chief Executive Officer and Chairman of the Board "Josh has over 20 years of private market investment experience focused on the healthcare industry including in facilities-based skilled nursing and behavioral health having collaborated with management teams in devising and executing growth and operating strategies We are confident we will benefit from his deep expertise and insights as we focus on accelerating profitable occupancy and RevPAR growth delivering meaningful Adjusted EBITDA growth materially enhancing Adjusted Free Cash Flow generation Hausman joins the Brookdale Board following the recent appointment of Mark Fioravanti as an independent director Bumstead's decision not to stand for re-election at the 2025 Annual Meeting of Stockholders (the "Annual Meeting") Brookdale's Board will have an average tenure of less than four years after the Company's 2025 Annual Meeting and comprise eight directors including two appointed last year and two this year "The continuing refreshment of our Board with highly qualified directors reflects our commitment to bringing in new expertise and perspectives and follows engagement with our shareholders." the Board is also reviewing potential governance enhancements related to director tenure and evaluating revisions to the Company's performance-based long-term incentive awards program for executives About Joshua HausmanJoshua Hausman spent two decades with Onex Corporation ultimately serving for 12 years as Managing Director for Onex Partners the upper-middle market private equity platform of Onex Corporation He led Onex Partners' North American healthcare investment activities including advising portfolio company management teams and evaluating growth and operating efficiency opportunities Hausman was an Associate in the Healthcare Investment Banking group at Banc of America Securities where he provided capital raising and advisory services to healthcare companies Hausman currently serves as Managing Partner at MHJ Capital Partners and on the Board of Directors of Newport Healthcare and SCP Health He has previously held board positions at privately owned and publicly traded healthcare services companies in Economics (cum laude) from Harvard College NON-GAAP FINANCIAL MEASURESThis press release mentions the financial measures Adjusted EBITDA and Adjusted Free Cash Flow which are not calculated in accordance with U.S generally accepted accounting principles ("GAAP") Reference to these non-GAAP financial measures is intended to aid investors in better understanding the factors and trends affecting the Company's performance and liquidity investors should not consider these non-GAAP financial measures as a substitute for financial measures determined in accordance with GAAP income (loss) from operations or net cash provided by (used in) operating activities Adjusted EBITDAAdjusted EBITDA is a non-GAAP performance measure that the Company defines as net income (loss) excluding: benefit/provision for income taxes non-operating income/expense items and depreciation and amortization; and further adjusted to exclude income/expense associated with non-cash cost reduction or organizational restructuring items that management does not consider as part of the Company's underlying core operating performance and that management believes impact the comparability of performance between periods Adjusted Free Cash FlowAdjusted Free Cash Flow is a non-GAAP liquidity measure that the Company defines as net cash provided by (used in) operating activities before: distributions from unconsolidated ventures from cumulative share of net earnings changes in prepaid insurance premiums financed with notes payable changes in operating lease assets and liabilities for lease termination cash paid/received for gain/loss on facility operating lease termination and lessor capital expenditure reimbursements under operating leases; plus: property and casualty insurance proceeds and proceeds from refundable entrance fees net of refunds; less: non-development capital expenditures and payment of financing lease obligations or average monthly senior housing resident fee revenue per available unit is defined by the Company as resident fee revenue for the corresponding portfolio for the period (excluding revenue for private duty services provided to seniors living outside of the Company's communities and entrance fee amortization) divided by the weighted average number of available units in the corresponding portfolio for the period divided by the number of months in the period ABOUT BROOKDALE SENIOR LIVINGBrookdale Senior Living Inc is the nation's premier operator of senior living communities With 647 communities across 41 states and the ability to serve approximately 58,000 residents as of March 31 Brookdale is committed to its mission of enriching the lives of seniors through compassionate care and continuing care retirement communities offering tailored solutions that help empower seniors to live with dignity Brookdale creates opportunities for wellness and meaningful relationships in settings that feel like home Guided by its four cornerstones of passion Brookdale is committed to delivering exceptional value and redefining senior living for a brighter Brookdale's stock trades on the New York Stock Exchange under the ticker symbol BKD FORWARD-LOOKING STATEMENTSCertain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 These forward-looking statements are subject to various risks and uncertainties and include all statements that are not historical statements of fact and those regarding the Company's intent Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "could," "would," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "believe," "project," "predict," "continue," "plan," "target," or other similar words or expressions and include statements regarding the focus of the Interim Chief Executive Officer the Company's ability to deliver sustained and compelling returns to its shareholders the Company's ability to continue to grow profitable occupancy and RevPAR materially enhance Adjusted Free Cash Flow generation These forward-looking statements are based on certain assumptions and expectations and the Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain Although the Company believes that expectations reflected in any forward-looking statements are based on reasonable assumptions it can give no assurance that its assumptions or expectations will be attained and actual results and performance could differ materially from those projected Factors which could have a material adverse effect on the Company's operations and future prospects or which could cause events or circumstances to differ from the forward-looking statements include events which adversely affect the ability of seniors to afford resident fees or the equity markets and unemployment among resident family members; the effects of senior housing construction and development and increased competition; conditions of housing markets and the effects of climate change in geographic areas where the Company is concentrated; terminations of the Company's resident agreements and vacancies in the living spaces it leases; changes in reimbursement rates or timing under governmental reimbursement programs including the Medicare and Medicaid programs; failure to maintain the security and functionality of the Company's information systems to prevent a cybersecurity attack or breach or to comply with applicable privacy and consumer protection laws including HIPAA; the Company's ability to complete its capital expenditures in accordance with its plans; the Company's ability to identify and pursue development and acquisition opportunities and its ability to successfully integrate acquisitions; competition for the acquisition of assets; the Company's ability to complete pending or expected disposition or other transactions on agreed upon terms or at all including in respect of the satisfaction of closing conditions the risk that regulatory approvals are not obtained or are subject to unanticipated conditions and uncertainties as to the timing of closing and the Company's ability to identify and pursue any such opportunities in the future; risks related to the implementation of the Company's strategy and long-term lease payments and to fund its planned capital projects; the effect of any non-compliance with any of the Company's debt or lease agreements (including the financial or other covenants contained therein) including the risk of lenders or lessors declaring a cross default in the event of the Company's non-compliance with any such agreements and the risk of loss of the Company's property securing leases and indebtedness due to any resulting lease terminations and foreclosure actions; the inability to renew or exercise purchase options at or prior to the end of any existing lease term; the effect of the Company's indebtedness and long-term leases on the Company's liquidity and its ability to operate its business; increases in market interest rates that increase the costs of the Company's debt obligations; the Company's ability to obtain additional capital on terms acceptable to it; departures of key officers and potential disruption caused by changes in management; increased competition for wage pressures resulting from increased competition minimum wage increases and changes in overtime laws and union activity; environmental contamination at any of the Company's communities; failure to comply with existing environmental laws; an adverse determination or resolution of complaints filed against the Company including putative class action complaints; negative publicity with respect to any lawsuits or other legal or regulatory proceedings; costs to respond to and investigations; the cost and difficulty of complying with increasing and evolving regulation including new disclosure obligations; changes in employment-related laws and regulations; the risks associated with current global economic conditions and general economic factors on the Company and the Company's business partners such as inflation and uncertainty surrounding a new presidential administration the impact of seasonal contagious illness or other contagious disease in the markets in which the Company operates; actions of activist stockholders including a proxy contest; as well as other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC") including those set forth in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q When considering forward-looking statements you should keep in mind the risk factors and other cautionary statements in such SEC filings Readers are cautioned not to place undue reliance on any of these forward-looking statements which reflect management's views as of the date of this press release The Company cannot guarantee future results it expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company's expectations with regard thereto or change in events or circumstances on which any statement is based may be deemed participants in the solicitation Hazel is the beneficial owner of 44,439 shares of common stock Hausman does not own any shares of common stock More detailed and updated information regarding the identity of participants in the solicitation and their direct or indirect interests (by security holdings or otherwise) will be set forth in the Proxy Statement and other materials to be filed with the SEC These documents can be obtained free of charge from the sources indicated above (NYSE: BKD) plans to release its first quarter 2025 financial results after the market closes on Tuesday (NYSE: BKD) ("Brookdale" or the "Company") today announced that the Board of Directors effected a Chief Executive.. Banking & Financial Services Residential Real Estate Real Estate Senior Citizens Do not sell or share my personal information: Brookdale Community College student Bishes Mukherjee has been selected as the 2024 recipient of the $1,000 Collector Car Hobby Mid-Jersey Region AACA Scholarship Sponsored by the Antique Automobile Club of America (AACA) Mid-Jersey Region the scholarship is awarded each fall to a student enrolled in Brookdale’s Automotive Technology Program who demonstrates exceptional promise in vintage and collector car restoration pursuing his Associate of Applied Science in Automotive Technology was recognized for his academic achievements Mukherjee has built his educational and professional journey around his love for cars “Car collecting has taught me the value of understanding the intricacies of various car models from engine configurations to electrical systems,” said Mukherjee “Restoring classic cars like the 1966 Chrysler Newport has helped me better understand the evolution of automotive technology and how it connects to today’s innovations.” His standout project at Brookdale involved restoring a 1966 Chrysler Newport once used by the Union Beach Police Department Working alongside his professor and classmate Mukherjee helped bring the historic patrol vehicle back to life—transforming it from an empty shell into a fully functioning classic with period-correct parts and restored police markings “This car was more than a project; it was a learning lab,” Mukherjee explained and applying everything we’ve learned in class in a real-world setting.” gaining hands-on experience with modern electric vehicle systems and learning how innovation is shaping the future of the automotive industry he will pursue a Bachelor of Science degree in Automotive Technology Management at the Pennsylvania College of Technology he is committed to joining Tesla in Eatontown where he has already been offered a position he has been invited to renew his internship with Tesla after completing two semesters at Pennsylvania College of Technology The AACA scholarship may be used to cover tuition It is designed to support students committed to preserving and maintaining collector vehicles while advancing their careers in the automotive field The check presentation will take place on Friday at TK’s Ice Cream in Cream Ridge during the AACA Mid-Jersey Region’s monthly summer antique car show The public is invited to attend and celebrate the achievements of Brookdale’s Automotive Technology students while enjoying an evening of classic cars I feel even more motivated to give back to the field that has given me so much,” Mukherjee said and keep restoring—blending tradition with innovation every step of the way.” has been selected for inclusion in Marquis Who’s Who As in all Marquis Who’s Who biographical volumes individuals profiled are selected on the basis of current reference value and prominence in a field are all taken into account during the selection process Gibson is a distinguished professional in the field of critical care currently serving as an adjunct faculty member at Brookdale Community College she has imparted her extensive knowledge to nursing students in their final year guiding them through clinical experiences in hospital settings Her dedication to education extends beyond the classroom as she volunteers her time to teach nurses how to place intravenous lines using ultrasound technology Gibson has also been an advanced practice nurse at Robert Wood Johnson University Hospital since 2021 where she provides care for critically ill patients in the intensive care unit Her responsibilities include performing procedures screenings and admissions for eight to fifteen patients at a time she has been a nurse practitioner at Newark Beth Israel Medical Center since 2017 further solidifying her expertise in critical care Gibson’s early career includes serving as a registered nurse at Newark Beth Israel Medical Center and Robert Wood Johnson University Hospital from 2005 to 2015 she honed her skills in patient care and developed a strong foundation in nursing practice Her experience as a registered travel nurse with Nurse 24/7 LLC from 2006 to 2007 provided her with diverse clinical experiences across various health care settings Gibson earned a Doctor of Nursing Practice in adult gerontology from Rutgers School of Nursing in 2019 She also holds a Master of Science in Nursing from Fairleigh Dickinson University and a Bachelor of Science in Nursing from Rutgers University Newark Her certifications include an acute care certification from the University of Pennsylvania in 2022 and an adult gerontology primary care certification acquired in 2014 Gibson’s professional affiliations with the American Association of Nurse Practitioners and the American Nurses Association reflect her commitment to advancing the nursing profession she was recognized as a top nurse practitioner by Clinical Advisor magazine in 2025 and received the Academic Excellence Award from Rutgers and enjoys teaching and reading in her free time she attributes her success to resilience and perseverance developed through the unbelief of others She has also continually placed her trust in God for guidance through life’s obstacles and is dedicated to education and patient care Gibson is driven by a desire to bridge the gap between knowledge deficit and practical implementation for nursing students and practitioners With aspirations to establish a mentorship program for new graduates and students she aims to equip future nurses with essential tools for success she plans to participate in a medical mission as a long-held personal ambition a full-time psychology student and entrepreneur at Brookdale Community College will travel to Ireland and Amsterdam this summer as part of Brookdale’s study abroad programs—her first trip to Europe Shevlin has been awarded three scholarships Shevlin earned first place in the Study Abroad Association’s national scholarship competition receiving $1,500 to fund her Amsterdam experience She was also awarded the Jody Calendar and Elaine Baran scholarships through Brookdale totaling an additional $2,000 toward her travel expenses “I could not be more honored to have won these grants,” Shevlin said “They will not only support me studying abroad but will help keep me financially afloat as I step away from work for a few weeks.” Shevlin has been selling artwork since she was 14 and became a certified tattoo artist at 18 She continues to manage the business while attending Brookdale full-time she was rear-ended at a red light and suffered a traumatic brain injury and spinal injuries a neuropsychologist encouraged her to return to school gradually as a form of cognitive therapy “There will never be a perfect time to return to school,” Shevlin recalled from that experience “Even taking one class at a time could offer amazing cognitive therapy.” Now nearing the completion of her associate degree Shevlin hopes to begin her bachelor’s in psychology in spring 2026 She is currently exploring online and local university options including university partnerships that offer programs on the Brookdale campus Shevlin is a member of Phi Theta Kappa and the National Society of Leadership and Success She works remotely as a content creator for NJveg through Brookdale’s Career Center regularly attends events at the Caroline Huber Holistic Wellness Center “I’m looking forward to visiting art museums getting tattooed in both Ireland and Amsterdam and maybe even playing an Irish harp,” she said “I’m so excited to visit Europe for the first time and meet more friends on my journey.” Shevlin credits Brookdale professors Angela Saragusa and Jess Levine for their support and recommendation letters which were instrumental in her scholarship success To see her tattoo work and follow her travels, visit resilientvisions.com or follow her Instagram accounts @resilient_visions and @madimargs “I hope if you read this far I can inspire you to dare to dream in life and work hard every day towards achieving those dreams,” she said Brookdale’s Esports own Synnister clinched the Super Smash Bros Ultimate title in an unforgettable finish and the pop-off when he won Brookdale Esports is once again at the top of the leaderboard as Paul “synnister” Synn has claimed the National Junior College Athletic Association Esports (NJCAAE) Super Smash Bros Ultimate (SSBU) 1v1 National Championship title for the second consecutive season—winning both the Fall 2024 and Spring 2025 championships Paul secured his Spring victory in epic fashion delivering a stunning reverse sweep in the Grand Finals against “Charlie D.” from Centralia Community College in Washington state Paul fought back to win three straight games and take the match 3-2—solidifying his legacy as one of the top players in the NJCAAE and pure determination in those final rounds were nothing short of inspiring,” said Head Coach Frankie Gleeson “We train year-round for moments like this and I couldn’t be prouder of how he executed under pressure.” Coach Gleeson also earned praise for his in-the-moment coaching adjustments and continued commitment to Brookdale’s nationally competitive Esports program “Paul is a fierce competitor and an incredible representative of Brookdale Esports,” said Director Chris Boehmer “We are beyond proud of his accomplishments and all the hard work put in by both Paul and Coach Gleeson They deserve all the credit in the world.” Paul “synnister” Synn has firmly established himself as a dominant force in collegiate Esports and Brookdale Esports continues to prove its place among the nation’s elite Brookdale Esports actively recruits and competes at the intercollegiate level in Rocket League, Valorant, Super Smash Bros. Ultimate, Overwatch, Call of Duty: 4v4, Street Fighter 6, League of Legends, and Mario Kart 8 as a proud member of the NJCAAE Relive the moment: Watch the clip After a seven-year tenure as CEO of Brookdale Senior Living (NYSE: BKD) Cindy Baier is stepping down from her post Tennessee-based company announced she had entered into a separation agreement to step down from her position as of April 13 She also resigned from the company’s board of directors Warren will serve as interim CEO and is joined by three independent directors on a CEO search committee supported by executive search firm Spencer Stuart Brookdale is now “poised to deliver sustained and compelling returns to our shareholders,” as the company successfully “executed on our strategy to simplify and streamline the business rationalize our lease portfolio and address our debt maturities,” Warren said in a press release the board determined that now is the right time to identify the company’s next leader We are appreciative of the care and services our teams provide for our residents and their families,” Warren said “We are grateful for Cindy’s leadership over the past seven years and for the role she played leading the company through the many challenges posed by Covid I want to thank Cindy for her dedication to and leadership of Brookdale.” “It has been an honor and a privilege to lead Brookdale and to work alongside the Company’s incredible team I take pride in what we have accomplished through the resourcefulness and hard work of Brookdale’s associates I know that Brookdale will continue to be a leader in the industry and a place that senior residents feel at home.” president and CEO of Ryman Hospitality Properties Bumstead will not stand for reelection at the 2025 annual shareholder meeting Brookdale is “reviewing potential governance enhancements related to director tenure” and is considering revising executives’ performance-based incentives The leadership change at Brookdale is taking place after activist shareholder Ortelius Advisors last month nominated six new members to the Brookdale board Brookdale announced that Q1 2025 adjusted EBITDA will exceed internal expectations as well as analysts’ consensus expectations The company also touted that adjusted free cash flow is likely to be positive for 1Q25 with revenue per available room (RevPAR) also exceeding internal projections “These preliminary first quarter results give the board even more confidence in the robust opportunity that lies ahead for Brookdale,” Warren stated “Achieving positive adjusted free cash flow in the first quarter which has historically been a negative adjusted free cash flow quarter is a key milestone and a reflection of the cash flow generation power of the business as weighted average occupancy approaches and exceeds 80%.” One of Brookdale’s largest capital partners health care and biotechnology investment firm Deerfield applauded the change Monday and said its “enthusiasm about Brookdale’s future has never been greater.” “We believe demand for Brookdale’s services will well outstrip supply in a few short years due to demographics alone,” the company noted in a press release “Revitalizing existing communities and executing a growth strategy made possible through rising operating cash flows can allow the company to close the growth and valuation gap with peers this can comfortably yield a significantly higher equity value.” Brookdale declined to comment beyond its announcement when reached by Senior Housing News Monday The company’s stock price gained more than 8.5% Baier’s exit from Brookdale marks the end of a specific chapter in the company’s history “We spent several years renegotiating leases and converting leased assets to owned assets really to get to a portfolio where we have the ability to win,” Baier told SHN in 2022 That effort and philosophy continued last year as Brookdale acquired 41 communities previously managed under triple-net leases for $610 million increasing to two-thirds its share of owned and managed senior living units Brookdale also during Baier’s tenure rolled out two programs aimed at helping residents stay healthy and engaged, HealthPlus and EngagementPlus Brookdale and Baier were the subject of several proxy fights over the years, with its most recent one stemming from Brookdale investor Ortelius Advisors, which owns 1.3% of Brookdale’s stock. Activist investor Land & Buildings also engaged in a proxy battle with Brookdale in 2018 Senior Housing News Senior Editor Tim Regan contributed writing and reporting for this story Tim likes to be on the tennis court or traveling to a new destination Recent highlights include Melbourne and Rome Senior Housing News (SHN) is the leading source for news and information covering the senior housing industry. SHN is part of the Aging Media Network 2011 Brookdale graduate and former men’s soccer team midfielder Mike Yuhas reflects on his time as a Jersey Blues student-athlete and resilience he mastered helped create his strong work ethic It assisted him to reach his full potential as a plumbing business owner and a part-time commercial actor “Being a student-athlete at Brookdale was a unique and challenging experience that has profoundly shaped my life Balancing the demands of academics with the rigor of sports required discipline Balancing these commitments fostered discipline and contributed to the strong work ethic I have today such as losing a game or healing from an injury These challenges taught me to be mentally tough and resilient and ultimately develop a ‘never give up’ attitude—the experience of training and competing together created bonds among my teammates and coaches Coach Costa and Coach Fraley were a constant source of support on and off the field checking in and offering guidance whenever needed I’m grateful for the role Brookdale played in helping me reach my full potential.” Science Mondays is a collaborative effort between Brookdale’s Biology and Environmental Science Clubs and the Jersey Shore Chapter of the New Jersey Sierra Club Its mission is to provide a platform for faculty students and community members to discuss environmental issues will describe great spots for birding in New Jersey She will identify characteristics that make a location bird-friendly and explain why different habitats attract different species Drawing on her experience in bird-banding research McNamara also will explain how concerned citizens are using science to learn about Lindsay McNamara has worked in conservation and environmental nonprofit communications and development for over a decade Lindsay has been birding since she was nine years old and her favorite bird is the one she’s looking at McNamara has been leading bird walks since 2018 and is always looking to engage new birders in her lifelong passion You can join her on her monthly bird walks through her new LLC Beachy Birder Adventures (@beachybirder) *Doors open at 6:30p.m.; Lecture begins at 6:45p.m From her early days working with adjudicated youth to her leadership in educational advocacy Stephanie D’Alessio’s career has been driven by a steadfast belief: that every student deserves the opportunity to succeed “My educational philosophy has always been rooted in breaking barriers and promoting success for at-risk and underserved youth,” she shared “Serving as a trustee for Brookdale offers me the opportunity to continue that commitment—to support initiatives that offer broad D’Alessio brings a wealth of experience to the Brookdale Board of Trustees shaped by a lifelong career in K–12 education Her firsthand understanding of the challenges students encounter gives her a unique lens when helping to shape college policies and programs “My background has given me an invaluable insight into the needs of diverse student populations,” she explained “And my nonprofit work helped me hone skills in advocacy and building strong community partnerships—skills that directly translate to supporting Brookdale’s mission.” Her professional foundation is strengthened by a deep commitment to learning D’Alessio earned her Doctorate in Educational Leadership from Monmouth University She also holds a DoS Certification in Evaluation and Assessment of STEM Programming from the PEAR Institute at Harvard University—credentials that reflect her dedication to advancing educational excellence and lifelong growth D’Alessio has served on both the Student Success and Audit Committees working alongside her colleagues to champion student access One of her proudest moments has been celebrating Brookdale’s recognition as the #1 community college in New Jersey for three consecutive years “That distinction is a testament to the amazing leadership of Dr Lynch in maintaining and enhancing high quality education and support for our faculty and students,” she said reflecting on the teamwork that fuels Brookdale’s continued success “Whether it’s a student moving from a ninth grade reading level to a college level after a basic skills class or a young person finding their confidence through mentorship success is about growth—for the student and for the educator supporting them.” That philosophy of growth and empowerment inspired her to create the Soaring with STEAM program for the Conserve Wildlife Foundation of New Jersey a groundbreaking initiative that has reached tens of thousands of students across underserved communities “I wanted to combine my love of education and wildlife to spark curiosity in young minds,” she said “Experiential learning—getting students hands-on and minds-on—creates lasting engagement and empowers students to become stewards of their world.” A champion for women in STEM and a published scholar she is especially proud of her dissertation work which focused on self-identity and gender disparities in STEM fields “There’s a real need to help young girls see themselves in these roles and representation matter,” she emphasized The best career choice is the one you’d pursue if someone handed you a $100 million check and said you had to work to get it—because passion is everything.” D’Alessio’s deep commitment to service extends far beyond Brookdale She remains active on the Education Advisory Council for the Conserve Wildlife Foundation where she continues to advocate for wildlife conservation and environmental education “This commitment to helping others drives me—to serve with passion and purpose she says her journey is guided by faith and purpose “I believe my passion for children and animal advocacy is a gift meant to be shared and experience to create meaningful change.” D’Alessio finds balance in the simple joys of life: relaxing at her home by the beach She also stays connected to Brookdale’s mission in her personal life—currently reading Poverty-Informed Practice in Education “Staying informed about our initiatives helps me be a better trustee,” she said From the moment she first joined Brookdale’s Board D’Alessio knew she had found a special community the team so supportive—Brookdale immediately felt like a family of people who genuinely love education and service To be among such esteemed colleagues is truly humbling.” Stephanie D’Alessio leads with compassion and an unwavering belief in the transformative power of education Her journey is a reminder that when barriers are broken and passions pursued real and lasting change is possible—for students Lucinda “Cindy” Baier has stepped down as president and CEO of Brookdale Senior Living a position she has held for more than seven years and the company has begun a search for her successor the country’s largest senior living company said it will be looking for a leader “who will be focused on driving operational and financial improvements capitalizing on the intrinsic value of Brookdale’s owned real estate portfolio and enhancing shareholder value by acting on Brookdale’s compelling industry dynamics and cash flow generation potential.” The company entered into a separation agreement with Baier who also resigned from her position on the company’s board of directors “It has been an honor and a privilege to lead Brookdale and to work alongside the Company’s incredible team,” Baier said in a statement “I take pride in what we have accomplished through the resourcefulness and hard work of Brookdale’s associates I know that Brookdale will continue to be a leader in the industry and a place that senior residents feel at home.” Warren will oversee the company’s day-to-day operations as interim CEO until a permanent CEO is named The board has established an Office of the CEO executive vice president and chief financial officer “Having executed on our strategy to simplify and streamline the business rationalize our lease portfolio and address our debt maturities we believe Brookdale is now poised to deliver sustained and compelling returns to our shareholders the Board determined that now is the right time to identify the Company’s next leader,” Warren said “We are appreciative of the care and services our teams provide for our residents and their families We are grateful for Cindy’s leadership over the past seven years and for the role she played leading the Company through the many challenges posed by COVID I want to thank Cindy for her dedication to and leadership of Brookdale.” The board’s search committee looking for a successor to Baier will include Warren and three independent directors who will be supported by executive search firm Spencer Stuart “The Board is now conducting a thorough search process to identify the right CEO to capitalize on Brookdale’s strong foundation and to deliver value for our shareholders,” Warren said “I look forward to working with Dawn Chad and the entire leadership team to continue to grow profitable occupancy and RevPAR [revenue per available room] deliver meaningful Adjusted EBITDA [earnings before interest and amortization] growth and materially enhance Adjusted Free Cash Flow generation the Board believes that Brookdale has taken the right steps to set the stage for future growth and is confident in the Company’s ability to benefit from the robust demographic tailwinds represented by the aging baby boomer generation.” also announced Monday that Mark Fioravanti Warren said that he has “deep expertise in hospitality and real estate” and that “his skillset complements and enhances the composition of our Board” and that the company looked forward to his “fresh perspective as we continue to advance our strategy.” At Ryman Hospitality Properties (formerly Gaylord Entertainment) Fioravanti is responsible for all facets of the company including a portfolio of convention resorts — among them Gaylord properties — and an entertainment division that includes the Grand Ole Opry and Ryman Auditorium Fioravanti has been with the company for 23 years and has been CEO for more than two years after having been president and CFO since 2015 he served in various senior positions for RHP including executive vice president and CFO division president of ResortQuest International Fioravanti holds an MBA from the University of Tennessee and a Bachelor of Science in Landscape Architecture degree from Ohio State University He serves on the NAREIT Advisory Board of Governors the Tennessee Business Leadership Council and on the boards of the Nashville Area Chamber of Commerce and the Nashville Convention and Visitors Corp Bumstead will not stand for reelection at the company’s annual meeting Warren said that Bumstead had been “instrumental in establishing Brookdale as an industry leader.” The company also announced Monday that it is considering “potential governance enhancements related to director tenure” as well as revisions to its incentive program for executives based on feedback from shareholders Just last month, Peter DeSorcy, co-founder and managing member of New York-based activist hedge fund group Ortelius Advisors, wrote a letter to fellow Brookdale stockholders saying he was “deeply concerned by Brookdale’s abysmal performance and chronic undervaluation.” nominating six candidates for election to Brookdale’s board Ortelius said it owned approximately 1.3% of Brookdale’s common stock Long-time Brookdale shareholder and capital partner Deerfield Management said after Monday’s announcement that “[a]rticulating a clear vision and establishing an incentive system to align stakeholders is foundational for the company to reach its potential.” Deerfield said that its “enthusiasm about Brookdale’s future has never been greater and we support the Board’s efforts to extend Brookdale’s leadership in patient care and financial performance.” The company said Monday that as of March 31 it had 647 communities across 41 states and the ability to serve approximately 58,000 residents Baier became president and CEO and joined the Brookdale board in February 2018 after having served as CFO since 2015 Andrew Smith after a strategic review process that had begun a year earlier The transition came after Brookdale rejected a bid to be acquired for $9 per share, which at the time the company said “purported to range up to $11 per share in cash subject to conditions that the board did not believe were likely to be satisfied.” Brookdale on Monday also provided a sneak peek at its first-quarter results in advance of its anticipated May 6 earnings release Brookdale’s first quarter 2025 Adjusted EBITDA is expected to exceed both the Company’s and analysts consensus expectations,” the company said the Company expects to report positive Adjusted Free Cash Flow for the quarter The Company also anticipates RevPAR will exceed its internal expectations.” Just last week, Brookdale announced its highest month-end occupancy numbers in 5 years The company’s stock price ended Monday at $6.24 per share document.addEventListener( 'DOMContentLoaded' function () {const newsletterAsset = new HMIRegistration({ publicationId: 47 bootstrap: document.getElementById('newsletter-asset') formType : "user-initiated",pubType: "business"});newsletterAsset.mount();}); Please login or register first to view this content Only subscribers can update their account from this page Brookdale Community College student Brooke Sheroke (Keyport, NJ) has been awarded a distinguished scholarship sponsored by Holman Frenia Allison, PC through the New Jersey Society of Certified Public Accountants (NJCPA) Scholarship Fund who will graduate this spring with an Associate of Science in Business Administration was among 27 college students statewide recognized for their academic excellence and commitment to pursuing careers in accounting The NJCPA celebrated this year’s scholarship recipients at an awards ceremony held at the Pines Manor in Edison where a total of $190,000 was distributed to 40 high school and college students across New Jersey Sheroke’s passion for mathematics and problem-solving as well as her active leadership at Brookdale “I’m passionate about mathematics and problem solving which led me to pursue a future career in accounting and apply for the NJCPA Scholarship,” said Sheroke “I’m excited to continue learning and growing in the field while making a positive contribution to my community.” Sheroke serves as Vice President of Finance and Fundraising for the Phi Theta Kappa Honor Society and is an active member of the Students for Global Citizenship Club She will graduate as a full honors student and earn a Global Citizenship Distinction this May Sheroke currently holds a position as an Accounts Payable Assistant at a local company she will transfer to Monmouth University to complete her bachelor’s degree in Business Administration with a concentration in Accounting Her long-term goal is to become a Certified Public Accountant (CPA) “I’m hoping to pursue a career in accounting possibly in tax accounting or auditing,” she shared “There are so many opportunities within the field and I’m excited to explore them all.” has awarded more than $7 million to over 1,700 students Scholarships are made possible through generous contributions from firms such as Holman Frenia Allison “Encouraging the next generation of CPAs and accounting professionals should always be top of mind,” said Angela Garofalo “It’s a pleasure to recognize such outstanding students.” this scholarship not only supports her educational journey but strengthens her drive to achieve success in the accounting profession and beyond 2025 /PRNewswire/ -- Deerfield has been a long-term shareholder of Brookdale Senior Living and is one of Brookdale's largest capital partners Our enthusiasm about Brookdale's future has never been greater and we support the Board's efforts to extend Brookdale's leadership in patient care and financial performance We believe demand for Brookdale's services will well outstrip supply in a few short years due to demographics alone Revitalizing existing communities and executing a growth strategy made possible through rising operating cash flows can allow the company to close the growth and valuation gap with peers this can comfortably yield a significantly higher equity value Articulating a clear vision and establishing an incentive system to align stakeholders is foundational for the company to reach its potential We look forward to supporting Brookdale as it brings new talent and energy to the Board and executive team ContactJessica Sagers, PhD, Head of Communications[email protected] today announced the closing of the Deerfield Healthcare Innovations Fund III Deerfield Management is pleased to welcome Mark Michalski Michalski brings over two decades of experience in .. Health Care & Hospitals Medical Pharmaceuticals Appoints Interim CEO and Establishes Office of the CEO  Mark Fioravanti Appointed as New Independent Director; Frank M Bumstead Will Not Stand for Reelection at the 2025 Annual Meeting Board to Review Potential Enhancements to Corporate Governance Policies  First Quarter 2025 Preliminary Results Exceed Brookdale Expectations NASHVILLE, Tenn., April 14, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") today announced that the Board of Directors effected a Chief Executive Officer transition plan and appointed a new independent director announced that a tenured director will not stand for reelection and disclosed the Board's review of potential enhancements to corporate governance policies Appoints Interim CEO and Establishes Office of the CEO Brookdale's Board initiated a search for the Company's next Chief Executive Officer who will be focused on driving operational and financial improvements capitalizing on the intrinsic value of Brookdale's owned real estate portfolio and enhancing shareholder value by acting on Brookdale's compelling industry dynamics and cash flow generation potential the Company entered into a separation agreement with Lucinda ("Cindy") M Baier stepped down as President and Chief Executive Officer Baier also resigned from the Company's Board of Directors The Board formed a CEO Search Committee made up of Denise W and three independent directors to conduct the CEO search To oversee the Company's day-to-day operations and ensure business continuity until a permanent CEO is named Warren as Interim CEO and established an Office of the CEO Executive Vice President and Chief Financial Officer "Having executed on our strategy to simplify and streamline the business the Board determined that now is the right time to identify the Company's next leader We are appreciative of the care and services our teams provide for our residents and their families We are grateful for Cindy's leadership over the past seven years I want to thank Cindy for her dedication to and leadership of Brookdale." "It has been an honor and a privilege to lead Brookdale and to work alongside the Company's incredible team," said Ms "I take pride in what we have accomplished through the resourcefulness and hard work of Brookdale's associates I know that Brookdale will continue to be a leader in the industry and a place that senior residents feel at home." "The Board is now conducting a thorough search process to identify the right CEO to capitalize on Brookdale's strong foundation and to deliver value for our shareholders Chad and the entire leadership team to continue to grow profitable occupancy and RevPAR deliver meaningful Adjusted EBITDA growth and materially enhance Adjusted Free Cash Flow generation the Board believes that Brookdale has taken the right steps to set the stage for future growth and is confident in the Company's ability to benefit from the robust demographic tailwinds represented by the aging baby boomer generation." Appoints Mark Fioravanti as New Independent Director; Commitment to Board Refreshment and Corporate Governance Enhancements The Company also announced that Mark Fioravanti President and CEO of Ryman Hospitality Properties Bumstead will not stand for reelection at the 2025 Annual Meeting of Stockholders ("Annual Meeting") and will step down from the Board at the conclusion of the Annual Meeting Fioravanti's appointment and following the Annual Meeting Brookdale's Board will have an average tenure of approximately four years demonstrating the Company's commitment to Board refreshment "We are pleased to welcome Mark to the Brookdale Board With deep expertise in hospitality and real estate his skillset complements and enhances the composition of our Board We look forward to benefitting from his fresh perspective as we continue to advance our strategy." I extend my sincere gratitude to Frank for his many contributions over the course of his tenure He has been instrumental in establishing Brookdale as an industry leader the Board is reviewing potential governance enhancements related to director tenure and is evaluating revisions to the Company's performance-based long-term incentive awards program for executives The Company is pleased to announce that based on preliminary results Brookdale's first quarter 2025 Adjusted EBITDA is expected to exceed both the Company's and analysts' consensus expectations The Company also anticipates RevPAR will exceed its internal expectations "These preliminary first quarter results give the Board even more confidence in the robust opportunity that lies ahead for Brookdale Achieving positive Adjusted Free Cash Flow in the first quarter which has historically been a negative Adjusted Free Cash Flow quarter is a key milestone and a reflection of the cash flow generation power of the business as weighted average occupancy approaches and exceeds 80% we believe that returning to a pre-pandemic occupancy rate of 84.5% should deliver approximately $170 million of incremental revenue and $125 million of incremental operating income after giving effect to the transition of the 55 communities that will leave the portfolio by year-end Given the surging demographic demand over the next several years we expect additional upside to occupancy rates beyond the 84.5% and will be focused on leveraging our fixed cost model to return to pre-pandemic margins," said Ms The Company's first quarter outlook is based on information available to management as of the date of this release and is subject to change upon completion of all quarter-end financial closing processes and adjustments related to the quarterly review of the Company's consolidated financial statements including The Company plans to announce its first quarter 2025 financial results after the market closes on May 6 About Mark FioravantiMark Fioravanti is President CEO and a member of the Board of Directors of Ryman Hospitality Properties including its portfolio of destination convention resorts and its owned and operated entertainment division A 23-year veteran of Ryman Hospitality Properties after serving as President and Chief Financial Officer since 2015 Division President of ResortQuest International and SVP of Sales and Marketing Fioravanti holds an MBA from the University of Tennessee and a BSLA from The Ohio State University He serves on the board of the Nashville Area Chamber of Commerce as well as NAREIT's Advisory Board of Governors and the Tennessee Business Leadership Council Non-GAAP Financial MeasuresThis press release mentions the financial measures Adjusted EBITDA and Adjusted Free Cash Flow Adjusted Free Cash Flow Adjusted Free Cash Flow is a non-GAAP liquidity measure that the Company defines as net cash provided by (used in) operating activities before: distributions from unconsolidated ventures from cumulative share of net earnings and include statements regarding the focus of the next Chief Executive Officer materially enhance Adjusted Free Cash Flow generation and exceed pre-pandemic margins the Company's expectations for the first quarter of 2025 may be deemed a participant in the solicitation (NYSE: BKD) ("Brookdale" or the "Company") today announced that its Board of Directors (the "Board") has appointed.. Personnel Announcements The Brookdale Community College Automotive Technology program has just shifted into high gear with an exciting new addition to its fleet—a stunning 2024 Chevrolet Corvette generously donated by General Motors will be a premier hands-on learning tool for students in the college’s GM Automotive Service Educational Program (ASEP) “This is a game-changer for our students,” said Ivan Anderson an automotive technology professor at Brookdale “The 2024 Corvette is packed with cutting-edge technology and our students will have the unique opportunity to work on one of the most advanced vehicles on the road today.” The donated vehicle is no ordinary Corvette boasting an adrenaline-pumping 670-horsepower V8 engine and a sleek graphite metallic convertible roof it features a striking adrenaline-red leather interior while the exterior is accented with $11,000 worth of carbon fiber elements including a massive rear wing and front splitter this near-pristine supercar will be an invaluable tool for hands-on instruction “This Corvette is an engineering marvel,” said Anderson “From its rear-view mirror camera system to its adaptive suspension and high-performance braking it offers our students a rare chance to learn with state-of-the-art automotive technology.” Brookdale’s GM ASEP program provides students with real-world experience preparing them for careers as automotive technicians in GM dealerships and AC Delco-certified repair facilities The Corvette will be utilized to demonstrate various high-tech systems “Corvettes and Cadillacs are GM’s flagship vehicles when it comes to innovation,” STEM Institute Dean Dr “Having a car like this in our shop allows our students to gain experience with the most advanced technology in the industry.” The Corvette joins a growing fleet of donated GM vehicles all of which play a crucial role in Brookdale’s hands-on training programs the Corvette will serve as an outreach and marketing tool for Brookdale’s Automotive Technology program Plans are already in motion to wrap the vehicle with Brookdale’s branding and showcase it at high schools and automotive events to inspire future technicians General Motors has been a longstanding supporter of Brookdale’s automotive program providing not only vehicles but also engines This latest donation underscores the automaker’s commitment to fostering the next generation of skilled automotive professionals “We are incredibly grateful to GM for their continued investment in our students’ education,” said Crowder “This Corvette is more than just a car—it’s an opportunity for our students to work with the latest and greatest in automotive engineering.” As Brookdale continues to strengthen its automotive technology program donations like this ensure students are learning with industry-standard equipment With the recent ASE re-accreditation visit the addition of this Corvette further cements Brookdale’s reputation as a leader in automotive education “This is the kind of hands-on learning that prepares students for real-world careers,” said Anderson “And let’s be honest—who wouldn’t be excited to work on a Corvette like this?” Brookdale Community College is gearing up for an exciting new chapter in automotive education students will be hitting the ground running with one of the most advanced sports cars ever built Monday morning arrived with sunshine — and some chilling news from the Nashville suburbs: After seven years at the helm The parting wasn’t officially labeled a firing But given the timing and suddenness of the announcement it’s fair to say things were not exactly copacetic in Brentwood Full disclosure: I probably spoke to Baier seven or eight times over the years I also felt she had one of the crappier jobs in senior living: trying to rebuild a juggernaut company fresh off some serious and costly mistakes To say she inherited a hot mess would be putting it mildly Remember Brookdale’s earlier infamous — or at least premature — push to build a national brand Or the related push to acquire bundles of eyesore properties she remained a steady leader and ambassador the one metric that matters most to investors and shareholders — the company’s stock price — failed to gain traction It was just under $10 when she was named CEO in 2018; yesterday it was $6.40 That’s a steep drop from the halcyon days of 2006 Is it any mystery why Brookdale is in the market for new leadership Warren Buffett famously said successful investing comes down to following two rules the voices that matter at Brookdale felt that it was time to give someone else a shot at Rule No People who decry the relatively fabulous earnings that athletes entertainers and CEOs command tend to forget a few basic realities One is that getting to the top is damn near impossible The second is that staying there can be even more difficult Running a multibillion-dollar enterprise is always tough — and often ruthless the senior living industry is no exception Once circumstances shift or the board decides it’s time for a change How fast? Just ask Andy Smith — remember him? He’s the guy Baier replaced Brookdale Community College proudly welcomed a new class of inductees into the Beta Kappa Chapter of Tau Upsilon Alpha (TUA) the National Organization for Human Services Honor Society The ceremony celebrated the academic excellence and leadership potential of students dedicated to making a difference in their communities The mission of Tau Upsilon Alpha is to honor academic excellence and promote excellence in service to humanity The TUA emblem symbolizes the tireless efforts of human services professionals working to empower individuals through education and service The event featured a keynote address by Gina Hooper a Brookdale alumna and respected leader in the human services field who inspired the inductees to pursue their careers with compassion The Brookdale Class of 2025 inductees represent a diverse and passionate group of students and professionals committed to careers in social work and a deep desire to serve populations in need from children with disabilities to survivors of trauma and those struggling with addiction and mental health challenges Ava Bonanno is a continuing student in the Human Services program and a member of NSLS and Psi Beta “Every Mind Matters,” at her former university and aspires to work in hospital social work She is passionate about supporting survivors of domestic violence and works as a Direct Support Professional at Family Resource Associates Brooke Meberg plans to pursue a master’s in social work possibly at Ramapo or West Chester University She currently works multiple part-time jobs including supporting children with disabilities Renata Mongillo is an immigrant student graduating in the Fall 2025 and transferring to Rutgers Inspired by the impact of addiction on youth she aims to work in substance abuse prevention and treatment Nisha Narang co-leads the peer support group “Autism on a Deeper Level” and works at the Brookdale Wellness Center She is a first-generation college student dedicated to counseling individuals on the autism spectrum discovered a need for bilingual ABA therapists through her internships and plans to become a Licensed Clinical Social Worker She will be graduating this spring and transgerring to Rutgers University on the Brookdale campus William Ring plans to serve the autistic adult population and has co-developed the “Autism on a Deeper Level” support group at Brookdale He is currently an intern at the Caroline Huber Holistic Wellness Center and will graduate this May Kevonna Robinson will graduate in Fall 2025 She brings nine years of experience as a Direct Support Professional She aims to become an LCSW and Clinical Therapist for individuals with mental health and substance use challenges is passionate about creating community awareness She also explores her creativity through poetry and short stories and works as a Life Enrichment Manager at Sunrise Senior Living Yuririan Santiago-Reyes is graduating from Brookdale this Spring and will continue her studies at Rutgers University on the Brookdale campus As a proud first-generation college student she is passionate about serving the Latino youth population and positively impacting her community and is also a full-time psychology major at Montclair State University She is committed to advocating for individuals facing substance use disorders especially those who lack access to adequate resources or face systemic barriers to recovery Her ultimate goal is to work in addiction counseling ensuring people receive the support they need to rebuild their lives Alum Gina Hooper was also honored and inducted at the ceremony in recognition of her professional achievements and contributions to the field Hooper holds an Associate Degree from Brookdale and a Bachelor’s and Master’s Degrees from Rutgers University She carries multiple credentials including MBA She serves as the Executive Director of Ikon Recovery Center and is an Advisory Board Member for both Philadelphia’s Project Grace and Brookdale’s Human Services Program As these inductees continue their journeys many transferring to Rutgers University or pursuing advanced degrees they embody the spirit and mission of Tau Upsilon Alpha: a lifelong commitment to service and excellence in the human services field NASHVILLE, Tenn., March 3, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") today announced the February 27 2025 closing of two portfolio acquisitions completing its three-portfolio acquisition plan initially announced in September 2024 including the portfolio acquisition completed in December 2024 Brookdale is realizing predictable high-yielding returns on 41 assets from improved cost of capital and is increasing its owned real estate portfolio "We believe that Brookdale is positioned to create significant value over the next several years as we take advantage of favorable senior living industry dynamics specialized services," said Lucinda ("Cindy") Baier Brookdale can fully benefit from this powerful growth outlook rather than sharing in the value-creation from our operations We are proud that by year end we expect to own more than 75% of our consolidated unit count." Closing of Welltower Portfolio AcquisitionThe Company acquired five communities (686 units) previously leased from Welltower Inc The communities are primarily located in affluent or very affluent markets and together comprise 270 independent living units and 94 skilled nursing units with weighted average portfolio occupancy greater than 90% including the benefit of a favorable purchase option discount also reflects a significant discount to the Company's estimate of replacement cost Closing of Diversified Healthcare Trust Portfolio AcquisitionThe Company acquired 25 communities (875 units) previously leased from Diversified Healthcare Trust for $135 million includes certain communities with performance well-above the Company average and ranges in community size from 19 units to 92 units The portfolio includes 556 assisted living units and 319 memory care units with weighted average portfolio occupancy of approximately 80% The Company funded the combined $310 million cost of the two acquisitions by means of $69 million of cash on hand and $241 million of mortgage debt financing sourced by CBRE National Senior Housing Ally Bank Mortgage LoanThe Company obtained $161 million of mortgage debt from Ally Bank including a combination of new loan proceeds and the refinancing of an existing loan The $161 million loan has an initial three-year term and two one-year extension options exercisable subject to certain performance criteria of February 2030.  The debt is secured by first priority mortgages on 36 communities the Company repaid $50 million of Ally Bank debt on 11 communities which held a final maturity date of February 2029 Freddie Mac Mortgage LoansThe Company obtained an aggregate of $130 million in loans from CBRE National Senior Housing through its Freddie Mac Optigo® loan origination program The non-recourse mortgage financing has a ten-year term and is secured by first priority mortgages on five communities The debt bears interest at a fixed rate of 6.47% and is interest only for the first five years "We are pleased to have once again secured agency financing to support our business needs and strategic initiatives," said Dawn Kussow Brookdale's Executive Vice President and Chief Financial Officer and CBRE for these financings and are grateful for their ongoing partnership." Certain statements in this press release and the associated earnings call may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and include statements regarding the Company's expected financial and operational results including initiatives undertaken to execute on the Company's strategic priorities and their effect on its results; the impacts of the COVID-19 pandemic which reflect management's views as of the date of this press release and/or associated earnings call it expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained in this press release and/or associated earnings call to reflect any change in the Company's expectations with regard thereto or change in events Brookdale Senior Living (NYSE: BKD) is expanding an engagement-focused program to complement its growing HealthPlus service line – just one of the ways the company is seeking to maximize profitability in the months and years ahead Tennessee-based company detailed its new program which is designed to “help our residents build meaningful friendships faster” and provide a “lifestyle that reflects their unique interests,” Baier said during the company’s fourth-quarter 2024 earnings call Wednesday As it is expanding its new engagement program Brookdale also is narrowing its focus on maximizing profitability in 2025 The operator has steadily grown its occupancy in recent years with expectations to continue gaining ground amidst an industrywide supply-demand imbalance The company’s 4Q24 average occupancy rate of 79.4% lagged behind its pre-pandemic average occupancy rate of 84.5% Brookdale exceeded its operating income per unit by about 8% and its revenue per available room (RevPAR) by about 18% compared to 2019 While Brookdale’s leaders believe the operator has an opportunity to push its occupancy rate higher in the future Baier said the company has “taken one of two paths” – the path of focusing on generating healthier revenue instead of gaining occupancy at all costs “We could have pursued occupancy regardless of whether that occupancy would have driven improved cash flow or we could have pursued cash-flow growth,” Baier said “We chose the path to pursue cash-flow growth I’m really confident that that was the right path.” Brookdale is the nation’s largest senior living operator with 647 communities in 41 states the company reported a net loss of $83.9 million an improvement over its net loss of $91.2 million a year prior Brookdale has steadily expanded its HealthPlus program since its launch five years ago the company has added EngagementPlus to that rollout the EngagementPlus model centers engagement associates who “encourage and empower residents to lead a class tutor an associate or attend a learning event with outside experts from the community.” Baier noted the company is expanding the program to multiple communities and said she will provide more information on it later this year Brookdale is also continuing to expand its HealthPlus program, as it has in previous quarters. At its core, the program coordinates health care and other services for residents in an effort to keep them well for longer the operator expanded the program to 80 more communities with plans to add 60 more communities to the program later this year the company expects to have deployed the program in 190 communities by the end of 2025 residents living in communities that participate in HealthPlus have 80% fewer visits to urgent care clinics and 66% fewer hospitalizations than similar older adults living at home The average age of Brookdale residents now skews about six months younger than roughly five years ago – a fact that Baier said she is particularly excited about “If you think about having younger residents move in with us we would think that will mean that they will stay with us longer which should be very positive as we go into the future,” she said Both EngagementPlus and HealthPlus are wrapped up in Brookdale’s quest to generate higher revenue and margins in the months and years ahead Should the company return to its pre-pandemic occupancy rate of 84.5% it would gain “at least $190M of incremental revenue,” with an “opportunity for growth as RevPOR potential surpasses inflation in future years,” according to its fourth-quarter earnings presentation Now that Brookdale has “more than recovered” its pre-pandemic profitability per unit Baier said it has “much more opportunity for growth” ahead “We have communities that have rooms that aren’t currently serving residents it’s going to drive higher RevPAR and a higher profitability,” she said She added: “What we are going to look at every single day is How do we differentiate Brookdale to provide a better experience to our residents and our associates?” But Baier said that Brookdale has little exposure to fluctuations in Medicare and Medicaid programs given 94% of its revenue comes from private resident rates She also cited data that 18% of assisted living residents rely on Medicaid for daily services higher than Brookdale’s exposure to the program usually you’re running a very high occupancy community – often 95 to 100% occupancy – but it’s at a much lower margin,” she said we absolutely chose to walk away from some Medicaid business because the reimbursement rate did not keep pace with the cost of providing services.” In addition to launching and expanding its programs Brookdale spent last year retooling its leases with landlords and increasing its number of owned senior living communities “These 2024 portfolio management transactions are expected to drive meaningful improvements in cash flow and liquidity increase the proportion of our own real estate portfolio to over 75% of consolidated units by year-end and support meaningful value creation for our shareholders,” Baier said The company also in the last year has addressed more than $1 billion in loans in the process eliminating its 2025 debt maturities and reducing its 2026 debt maturities to $44 million The company also has refinanced more than $300 million of 2027 debt maturities at a lower interest rate than before That is “particularly meaningful” given that the senior living industry currently holds $10 billion in debt maturities due in 2025 “Thanks to the strong relationships we have cultivated with Fannie Mae and Freddie Mac and multiple lending partners we remain confident in our ability to successfully address these loans well before their maturity dates,” she said Tim is a lover of bad jokes and board games When he's not hunched over his work computer Tim can usually be found hunched over his personal computer In an open letter to Brookdale Senior Living stockholders on Thursday Ortelius Advisors called for “a new board and a new direction” at the country’s largest senior living company after what it said were “years of missteps and shortcomings” that have led stockholders to lose confidence in the current board.  The New York-based activist hedge fund group called the April 13 departure of former President and CEO Lucinda “Cindy” Baier who also stepped down from her board position at the Brentwood “just the first step” in holding the board accountable for the “massive destruction” of stockholder value.  and occupancy fell to 79.4% compared with 87.2% for the senior living industry as a whole The letter also cited dips in annual net operating income margins; average annual adjusted earnings before interest depreciation and amortization margins; cumulative cash flow; and Brookdale’s tangible book value per share Just last month Ortelius Advisors’ co-founder and management member wrote a letter to fellow Brookdale stockholders about his concern regarding the senior living operator’s “abysmal performance and chronic undervaluation.”  the formation of a CEO search committee and a review of potential governance enhancements “Following years of defending Brookdale’s CEO despite the company’s abysmal performance and acting only after our launch of a director election contest we believe that the board’s actions are ‘too little too late,’” the letter read.  Ortelius laid out what it called “viable paths” to review the company’s performance and maximize long-term stockholder value including monetizing the underperforming owned properties installing a new management team and refreshing the board managing partner at MHJ Capital Partners and former managing director at Onex Partners had been named an independent director on the board “The continuing refreshment of our board with highly qualified directors reflects our commitment to bringing in new expertise and perspectives and follows engagement with our shareholders,” interim CEO and Board Chairman Denise W Warren said Thursday in the announcement of Hausman’s appointment Brookdale’s portfolio includes 353 owned properties and 266 leased facilities (Brookdale puts the total at 647 as of March 31 the end of the last period for which it has publicly reported earnings.) Ortelius stated that 406 of the 619 communities it referenced (66% of the stated owned and leased portfolios) reported occupancy of higher than 75% whereas 213 (34%) reported occupancy below 75%.  “We believe that stockholders support our drive for a new Board citiing as evidence an 8% increase in stock prices following the firm’s board nominations and a 9% jump following Baier’s departure from the C-suite and the board “After years of missteps and shortcomings stockholders have lost confidence in the incumbent board’s decision-making abilities and the board cannot be trusted to take decisive action necessary after the vast destruction of stockholder value and put stockholders first,” the letter concluded.  Ortelius indicated that it intended to file a preliminary proxy statement with the US Securities and Exchange Commission No Shareholder Action Required at this Time NASHVILLE, Tenn., March 5, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") today confirmed that it has received notice from Pangaea Ventures ("Ortelius") that it has nominated six individuals to stand for election to the Brookdale Board of Directors at the Company's 2025 Annual Meeting of Stockholders The Company had not spoken with Ortelius for approximately two years prior to receiving notice of its director nominations The Board's Nominating and Corporate Governance Committee will review the proposed nominees in accordance with the Company's process and guidelines The Board will make its formal recommendation regarding director nominations in the Company's proxy statement which will be filed with the Securities and Exchange Commission and mailed to shareholders eligible to vote at the 2025 Annual Meeting of Stockholders With 647 communities across 41 states and the ability to serve approximately 58,000 residents as of December 31 Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and include statements regarding the Board's Nominating and Corporate Governance Committee review of the proposed nominees Factors which could affect the Company's forward looking statements include the risks detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC") the Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company's expectations with regard thereto or change in events IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT CERTAIN INFORMATION REGARDING PARTICIPANTS March delivered the highest month-end occupancy numbers in five years for Brookdale Senior Living, with occupancy improving to 80.9% from February according to the company’s latest occupancy report March weighted average occupancy increased 160 basis points year-over-year, to 79.5%, and it grew 20 basis points sequentially from February’s 79.3% average occupancy. The increases reflect another month of “counter-seasonal” strength, according to the company First-quarter weighted average occupancy growth increased by 140 basis points year-over-year First-quarter occupancy performance was “significantly” better than normal seasonality move-in volume exceeded historical averages for the first quarter by 12% whereas move-out volume was 3% better than historical averages During a fourth-quarter 2024 and full-year earnings call in February Brookdale CEO Lucinda “Cindy” Baier said that the company expects occupancy growth this year to improve from 2024 based on improved move-in volumes Fourth-quarter consolidated weighted average occupancy grew 100 basis points over the fourth quarter of 2023 due to strong move-in volume which Brookdale said was the highest in eight years Brookdale has 647 communities across 41 states as of March 31 Brookdale Senior Living (NYSE: BKD) will forgo a renewal option on a master lease with Ventas for 120 communities Brookdale did not exercise its right to extend the term of the master lease between both companies for a renewal that would have started in 2026 according to the Chicago-based real estate investment trust (REIT) Brookdale “no longer has a right to extend the lease term for any assets currently covered by the master lease,” the company noted Brookdale will pay full contractual rent obligations through the master lease that expires at the end of 2025 with an annual cash rent under the master lease next year will be worth $113.6 million Following the 2020 restructuring with Ventas Brookdale added that for the trailing 12 months ending in September the portfolio had $23 million of negative cash flow Brookdale noted the 120-community portfolio had “historically generated significant negative cash flows.” Brookdale also shared that three years prior to the Covid-19 pandemic the communities had 85% occupancy and generated over $50 million of negative cash flow annually on average Brookdale added that for the trailing 12 months ending in September of this year given historical and expected future cash flow performance of this portfolio we expect that non-renewal will be more positive to Brookdale from a cash flow standpoint beginning in 2026 and will be more beneficial to our shareholders,” Brookdale CEO Cindy Baier said in the news release regarding the Ventas master lease Ventas said it plans to deploy its Operational Insights data platform to “some or all” of the communities covered by the master lease in the company’s senior housing operating portfolio (SHOP) and seek new operators to manage the communities “Ventas’s plans are intended to maximize the performance and value of these communities and further expand the company’s SHOP footprint to increase Ventas’s future growth rate amid an unprecedented multiyear growth opportunity due to secular demand from a large and growing aging population,” the announcement states lease or take other actions for a portion of the 120 communities in the leased portfolio A representative for Ventas did not elaborate on the move when reached by Senior Housing News Tuesday morning The agreement first came in 2020, and company leadership at Ventas highlighted the uncertain nature of the master lease during the Ventas third quarter earnings call Ventas Executive Vice President Justin Hutchens said there was a “variety of outcomes” from the master lease and its potential non-renewal or renewal by Brookdale Ventas CEO Debra Cafaro said the company would be “well-covered” from an earnings before interest amortization and restructuring or rent costs (EBITDAR) or net operating income (NOI) standpoint “That would have to be taken into account as you consider what the impact would be of a conversion of the whole Brookdale lease to SHOP and that’s a favorable pattern,” Cafaro said during the company’s third quarter earnings call This is not the first time Brookdale has decided not to renew a master lease with a REIT. In March 2023, Brookdale announced plans to not renew a master lease agreement with LTC Properties (NYSE: LTC) regarding 35 properties Brookdale and LTC announced a new master lease for 17 communities with other operators taking over management or completing transactions for the remaining communities , , Austin Montgomery is a reporter for Senior Housing News as part of WTWH Media find him at a local disc golf course or at the driving range working on his golf swing Brookdale Community College Performing Arts Center Presents: Blithe Spirit  February 16 and 23 2025 at 2 PM (Senior and Veteran discounts on Sunday Prepare for an evening of laughter and enchantment as Brookdale Community College Performing Arts Center proudly presents Blithe Spirit a delightful supernatural comedy by Noël Coward famously brought to life by the talented Angela Lansbury promises to captivate audiences with its blend of wit Blithe Spirit follows the misadventures of novelist Charles Condomine who invites the eccentric medium Madame Arcati to conduct a séance as research for his new book the séance conjures the mischievous spirit of his late wife who is determined to disrupt his new marriage hilarity ensues in this witty tale of love Join us for an unforgettable performance of Blithe Spirit that will leave you in high spirits Tickets are available at a general admission price of $20 plus service fees with discounts available for ages 62+ and veterans on February 16th only at a reduced price of $15 plus service fees For more information and to purchase tickets, please visit www.brookdalecc.edu/pac or contact our box office at pac@brookdalecc.edu or 732-224-2411 NASHVILLE, Tenn., Feb. 18, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") announced results for the quarter and full year ended December 31 Brookdale made significant progress to achieving its long-term potential We are proud of the meaningful improvements across many financial We are grateful for being recognized externally for our workplace culture and being a 'best of' in hundreds of our local markets we delivered positive Adjusted Free Cash Flow in the back half of the year and have positioned the business to generate meaningful Adjusted Free Cash Flow in 2025 through continued focus on profitable occupancy growth and appropriate expense management completed and pending acquisitions of leased portfolios and beneficial negotiation of recent lease amendments," said Lucinda ("Cindy") Baier we remain committed to enriching the lives of even more seniors who choose Brookdale to call home to ensuring that we remain an attractive place for associates to work and to grow their careers and to creating additional value for our shareholders in the near and long term." SUMMARY OF FOURTH QUARTER FINANCIAL RESULTS Consolidated summary of operating results and metrics: $        0.7 $           4 Adjusted EBITDA and Adjusted Free Cash Flow are financial measures not calculated in accordance with GAAP See "Non-GAAP Financial Measures" for the Company's definition of such measures reconciliations to the most comparable GAAP financial measures and other important information regarding the use of the Company's non-GAAP financial measures Same community(2) summary of operating results and metrics: $        0.3 $        3.9 $           2 The same community senior housing portfolio includes operating results and data for 610 communities consolidated and operational for the full period in both comparison years Consolidated communities excluded from the same community portfolio include communities acquired or disposed of since the beginning of the prior year communities classified as assets held for sale certain communities planned for disposition certain communities that have undergone or are undergoing expansion and certain communities that have experienced a casualty event that significantly impacts their operations same community operating results exclude natural disaster expense Recent consolidated occupancy trend:  Consolidated summary of liquidity metrics for comparable quarters: $           45.2 $           29.3 $                   15.9 $           66.5 $                 (21.3) Consolidated summary of liquidity metrics for the full year: $        166.2 $        162.9 $                        3.3 the Company entered into privately negotiated exchange and subscription agreements with certain of the holders of its outstanding 2.00% convertible senior notes due 2026 (the "2026 Notes") to exchange a portion of its existing 2026 Notes for a newly issued series of 3.5% convertible senior notes due 2029 (the "2029 Notes") the Company issued $369.4 million aggregate principal amount of its 2029 Notes $219.4 million principal amount of the 2029 Notes were issued in exchange for $206.7 million principal amount of the 2026 Notes and $150.0 million principal amount of the 2029 Notes were issued for cash The Company's net cash proceeds from the exchange and issuance transactions $23.3 million in aggregate principal amount of the 2026 Notes remain outstanding with the terms unchanged the Company entered into an amendment to extend the maturity date of $220.0 million of its mortgage debt secured by first priority mortgages on 24 communities to October 2026 and to obtain the delayed draw term loan advance of $10.0 million bringing the aggregate outstanding principal amount of the loan to $230.0 million The loan bears interest at a variable rate equal to Secured Overnight Financing Rate ("SOFR") plus a margin of 245 basis points The Company has the right to extend the term of the loan for one additional year subject to the satisfaction of certain conditions the Company obtained $344.2 million of debt secured by non-recourse first mortgages on 47 communities which also continue to secure $433.9 million of additional outstanding mortgages with maturities in 2027 and 2031. The $344.2 million loan bears interest at a fixed rate of 6.14% the Company repaid $312.5 million of debt under the mortgage facility using proceeds from the $344.2 million loan the Company amended its lease arrangement with Ventas the Company will continue to lease 65 communities ("Renewal Communities") The remaining 55 communities ("Non-renewal Communities") that are not renewed will either be sold by Ventas or transitioned with such transitions commencing on or after September 1 The aggregate annual minimum rent for the Renewal Communities will be $64.0 million beginning on January 1 subject to an annual escalator equal to 3% 2035 with one 10-year extension option remaining Ventas has agreed to fund capital expenditure costs up to $35.0 million during the calendar years 2025 to 2027 up to $15.0 million per year In the event any Non-renewal Community is not sold or transitioned by December 31 generally until the earlier of the transition or sale of such community or December 31 Rent for any Non-renewal Communities to be sold will continue through December 31 2025 regardless of the date of the sale (subject to a potential rent credit associated with the sale of one large community in the group) rent will terminate on the earlier of the date of such transition or December 31 International JV / Welltower Portfolio Acquisition the Company entered into a definitive agreement to acquire 11 senior living communities that were leased by the Company from a joint venture between Welltower Inc ("Welltower") and its joint venture partners for a purchase price of $300.0 million the Company successfully closed on the acquisition the Company assumed $194.5 million of existing 4.92% fixed rate agency debt which is scheduled to mature in March 2027 and the remainder of the purchase price was paid with cash on hand these communities were held in a triple-net lease with annualized cash rent payments of $22.3 million and an initial maturity of August 31 Diversified Healthcare Trust Portfolio Acquisition the Company entered into a definitive agreement to acquire 25 senior living communities from Diversified Healthcare Trust for a purchase price of $135.0 million these communities were held in a triple-net lease with annualized current cash rent payments of $10.2 million and a current maturity of December 31 The Company expects to complete the acquisition transaction in the first quarter of 2025 subject to the satisfaction of customary closing conditions for real estate transactions The Company expects to fund the acquisition of the 25 communities through proceeds from mortgage financing and cash on hand the Company entered into a definitive agreement to acquire five senior living communities that are currently leased by the Company from Welltower for a purchase price of $175.0 million these communities were held in a triple-net lease with annualized current cash rent payments of $13.7 million subject to customary closing conditions for real estate transactions The Company expects to fund the acquisition of the five communities through proceeds from mortgage financing and cash on hand the Company is providing the following guidance: the Company expects its full year 2025 non-development capital expenditures net of anticipated lessor reimbursements and property and casualty insurance proceeds Full year 2025 guidance includes only previously announced acquisition and disposition activity and 2025 disposition date for all 55 Ventas non-renewal communities to be transitioned or sold Reconciliation of the non-GAAP financial measure included in the foregoing guidance to the most comparable GAAP financial measure is not available without unreasonable effort due to the inherent difficulty in forecasting the timing or amounts of items required to reconcile Adjusted EBITDA from the Company's net income (loss) Variability in the timing or amounts of items required to reconcile the measure may have a significant impact on the Company's future GAAP results The Company will post on its website at brookdaleinvestors.com supplemental information relating to the Company's fourth quarter and full year 2024 results The supplemental information and a copy of this earnings release will also be furnished in a Form 8-K to be filed with the SEC Brookdale's management will conduct a conference call to discuss the financial results for the fourth quarter on February 19 The conference call can be accessed by dialing (800) 715-9871 (from within the U.S.) or (646) 307-1963 (from outside of the U.S.) ten minutes prior to the scheduled start and referencing the access code "1482282" A webcast of the conference call will be available to the public on a listen-only basis at brookdaleinvestors.com Please allow extra time before the call to download the necessary software required to listen to the internet broadcast A replay of the webcast will be available through the website following the call For those who cannot listen to the live call a replay of the webcast will be available until 11:59 PM ET on February 26 2025 by dialing (800) 770-2030 (from within the U.S.) or (609) 800-9909 (from outside of the U.S.) and referencing access code "1482282" or average monthly senior housing resident fee revenue per occupied unit divided by the weighted average number of occupied units in the corresponding portfolio for the period Condensed Consolidated Statements of Operations $       744,371 $       716,582 Reimbursed costs incurred on behalf of managed communities Facility operating expense (excluding facility depreciation and amortization of $85,575 General and administrative expense (including non-cash stock-based compensation expense of $3,533 Costs incurred on behalf of managed communities Gain (loss) on debt modification and extinguishment Equity in earnings (loss) of unconsolidated ventures Non-operating gain (loss) on sale of assets Net (income) loss attributable to noncontrolling interest Net income (loss) attributable to Brookdale Senior Living Inc $       (83,922) $       (91,156) Basic and diluted net income (loss) per share attributable to Brookdale Senior Living Inc $            (0.37) $            (0.40) $            (0.89) $            (0.84) Weighted average shares used in computing basic and diluted net income (loss) per share $                    308,925 $                    277,971 plant and equipment and leasehold intangibles $                 6,335,562 $                 5,573,435 $                       40,779 $                       41,463 Current portion of financing lease obligations Current portion of operating lease obligations Condensed Consolidated Statements of Cash Flows $            (201,994) $            (189,070) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Loss (gain) on debt modification and extinguishment Equity in (earnings) loss of unconsolidated ventures Distributions from unconsolidated ventures from cumulative share of net earnings Proceeds from deferred entrance fee revenue Changes in operating assets and liabilities: Trade accounts payable and accrued expenses Operating lease assets and liabilities for lessor capital expenditure reimbursements Net cash provided by (used in) operating activities Sale and maturities of marketable securities Proceeds from interest rate cap instruments Net cash provided by (used in) investing activities Repayment of debt and financing lease obligations Payments of employee taxes for withheld shares Net cash provided by (used in) financing activities and restricted cash at beginning of period $              379,840 $              349,668 This earnings release contains the financial measures Adjusted EBITDA and Adjusted Free Cash Flow Presentations of these non-GAAP financial measures are intended to aid investors in better understanding the factors and trends affecting the Company's performance and liquidity or net cash provided by (used in) operating activities The Company cautions investors that amounts presented in accordance with the Company's definitions of these non-GAAP financial measures may not be comparable to similar measures disclosed by other companies because not all companies calculate non-GAAP measures in the same manner The Company urges investors to review the following reconciliations of these non-GAAP financial measures from the most comparable financial measures determined in accordance with GAAP Adjusted EBITDA is a non-GAAP performance measure that the Company defines as net income (loss) excluding: benefit/provision for income taxes and depreciation and amortization; and further adjusted to exclude income/expense associated with non-cash or organizational restructuring items that management does not consider as part of the Company's underlying core operating performance and that management believes impact the comparability of performance between periods such other items include non-cash impairment charges Transaction costs include those directly related to acquisition Legal costs include charges associated with putative class action litigation Organizational restructuring costs include those related to the Company's efforts to reduce general and administrative expense and its senior leadership changes The Company believes that presentation of Adjusted EBITDA as a performance measure is useful to investors because (i) it is one of the metrics used by the Company's management for budgeting and other planning purposes to review the Company's historic and prospective core operating performance and to make day-to-day operating decisions; (ii) it provides an assessment of operational factors that management can impact in the short-term namely revenues and the controllable cost structure of the organization Adjusted EBITDA has material limitations as a performance measure including: (i) excluded interest and income tax are necessary to operate the Company's business under its current financing and capital structure; (ii) excluded depreciation and impairment charges may represent the wear and tear and/or reduction in value of the Company's communities and other assets and may be indicative of future needs for capital expenditures; and (iii) the Company may incur income/expense similar to those for which adjustments are made and such income/expense may significantly affect the Company's operating results The tables below reconcile Adjusted EBITDA from net income (loss) $                        (83,937) $                        (50,734) $                        (91,170) Non-operating loss (gain) on sale of assets $                         98,525 $                         92,237 $                         85,323 $                    (201,994) $                   (189,070) $                     386,194 $                     335,538 Adjusted Free Cash Flow is a non-GAAP liquidity measure that the Company defines as net cash provided by (used in) operating activities before: distributions from unconsolidated ventures from cumulative share of net earnings cash paid/received for gain/loss on facility operating lease termination and lessor capital expenditure reimbursements under operating leases; plus: property and casualty insurance proceeds and proceeds from refundable entrance fees Non-development capital expenditures are comprised of corporate and community-level capital expenditures and other major building infrastructure projects for the Company's communities and is presented net of lessor reimbursements Non-development capital expenditures do not include capital expenditures for: community expansions major community redevelopment and repositioning projects The Company believes that presentation of Adjusted Free Cash Flow as a liquidity measure is useful to investors because (i) it is one of the metrics used by the Company's management for budgeting and other planning purposes to review the Company's historic and prospective sources of operating liquidity and to review the Company's ability to service its outstanding indebtedness including development capital expenditures; and (ii) it provides an indicator to management to determine if adjustments to current spending decisions are needed Adjusted Free Cash Flow has material limitations as a liquidity measure including: (i) it does not represent cash available for dividends or discretionary expenditures since certain non-discretionary expenditures including mandatory debt principal payments are not reflected in this measure; (ii) the cash portion of non-recurring charges related to gain/loss on facility lease termination generally represent charges/gains that may significantly affect the Company's liquidity; and (iii) the impact of timing of cash expenditures including the timing of non-development capital expenditures limits the usefulness of the measure for short-term comparisons The tables below reconcile Adjusted Free Cash Flow from net cash provided by (used in) operating activities $                      45,198 $                      66,455 $                      29,294 $                      47,795 $                     (30,459) $                     (53,608) Changes in prepaid insurance premiums financed with notes payable Changes in assets and liabilities for lessor capital expenditure reimbursements under operating leases $                     (11,516) $                      13,853 $                     (21,455) $                    166,177 $                    162,923 $                      30,172 $                  (124,880) $                     (29,476) $                     (47,631) Earnings Earnings Each tangible equity unit is also comprised of a senior amortizing note due November 15 The last day of trading of the tangible equity units is March 28 subject to satisfaction of the conditions set forth in the purchase contract agreement by each holder of the purchase contracts the Company will issue 12.9341 shares of its common stock for each purchase contract plus any cash payable in lieu of fractional shares to such holder The settlement is based upon the average of the daily volume-weighted average price per share of the Company's common stock on the New York Stock Exchange for the 20 consecutive trading days ending on March 26 holders of tangible equity units or previously separated notes may also require the Company to repurchase their notes subject to the holders satisfaction of the conditions set forth in the indenture governing such notes A Notice of Election of Early Settlement was issued to the holders of tangible equity units and to the holders of any previously separated purchase contracts and notes on March 27 This press release does not constitute an offer to sell or buy or the solicitation of an offer to buy or sell any security and shall not constitute an offer sale or purchase of any securities in any jurisdiction in which such offering Contracts The Office of the State Comptroller finds that Brookdale adopted most of the recommendations it made three years ago TRENTON—A follow-up review finds that Brookdale Community College made “substantial progress” in correcting financial deficiencies identified three years ago, according to a report by the Office of the State Comptroller (OSC) OSC’s initial 2022 audit found that Brookdale had weak financial controls and oversight which led to $790,000 in unauthorized or improper spending OSC identified issues with 77 percent of the transactions reviewed including missing documentation and receipts OSC found that Brookdale awarded a lucrative contract without following public transparency requirements finds that of the 11 recommendations OSC made OSC found that Brookdale ensured that its policies and practices regarding health benefit opt-out waivers and other expenditures complied with the law that thousands of dollars in out-of-state travel and catering events were billed and paid for without any details or documentation OSC’s 2025 follow-up finds that Brookdale updated its policies and procedures and trained current staff OSC reviewed 20 transactions and found no significant issues OSC also found that Brookdale followed the recommendation to strengthen the cell phone allowance policy so that only critical staff received allowances the number of employees receiving allowances dropped from 21 to four OSC found Brookdale did not formally revise its overtime policies to ensure they comply with the law and urged it to do so Read the report. Sign up for our newsletter. To report government fraud, waste, mismanagement, or corruption, file a complaint with OSC or call 1-855-OSC-TIPS The Office of the State Comptroller (OSC) is an independent State agency that works to make government in New Jersey more efficient OSC is tasked with examining all aspects of government expenditures conducts audits and investigations of government agencies throughout New Jersey Stay up-to-date with the latest from OSC by following us on Twitter, Facebook, LinkedIn, Instagram, and Threads Pamela KrugerPamela.Kruger@osc.nj.gov609-789-5094 Ortelius owns approximately 1.3% of the common stock of the Nashville co-founder and managing member of Ortelius Advisors Brookdale has failed to execute on promises of a “turnaround strategy,” a “new strategic plan” and a “range of initiatives.” “While we believe that the company has significant upside potential based on its high-quality assets and considerable free cash flow capabilities Ortelius is deeply concerned,” he wrote The candidates each have 25 to 35 years of experience in senior living Brookdale stock rose 2.3% after Ortelius Advisors started its proxy fight, Seeking Alpha reported Asked to comment, Brookdale referred the McKnight’s Business Daily to its public acknowledgement of receiving a notice from Pangaea Ventures “The Company had not spoken with Ortelius for approximately two years prior to receiving notice of its director nominations,” Brookdale said in a statement adding that its board’s Nominating and Corporate Governance Committee would review them and make its formal recommendation regarding them in the Brookdale’s proxy statement which will be filed with the Securities and Exchange Commission and mailed to shareholders eligible to vote at the company’s annual meeting A date for the meeting has not been set.  NASHVILLE, Tenn., Nov. 6, 2024 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") announced results for the quarter ended September 30 we are deeply committed to creating value for our shareholders by providing high-quality care and services to our residents ensuring that we are an attractive place for employees to work and improving both our capital structure and capital allocation," said Lucinda ("Cindy") Baier this included not only our day-to-day operations but also helping to ensure our residents' and associates' health and safety through multiple major hurricanes being named a Most Loved Workplace by Newsweek meaningfully growing Adjusted Free Cash Flow more than doubling our number of Brookdale HealthPlus communities and negotiating multiple accretive transactions that will benefit Brookdale and our shareholders in the immediate-term and over the long-term." SUMMARY OF THIRD QUARTER FINANCIAL RESULTS $        4.0 $         34 Adjusted Free Cash Flow and Adjusted EBITDA are financial measures that are not calculated in accordance with GAAP $        5.0 $        9.8 $         33 The same community senior housing portfolio includes operating results and data for 611 communities consolidated and operational for the full period in both comparison years    OVERVIEW OF THIRD QUARTER RESULTS $           45.8 $                   20.7 $           55.7 $                   10.8 Agreements to Acquire Currently Leased Assets the Company entered into three definitive agreements to acquire 41 communities (2,789 units) that are currently leased by the Company for a combined purchase price of $610.0 million as further described in the press release issued on September 30 These three transactions are expected to close by year-end The Company expects to fund these acquisitions through the assumption of existing mortgage debt the net cash proceeds from the sale of the 3.50% convertible senior notes due 2029 (the "2029 New Notes") proceeds from non-recourse mortgage financing on certain of the assets The Company expects these three transactions will result in an approximately $46.6 million decrease in cash paid for operating and financing leases for the twelve months ending December 31 2025 compared to the previously required estimated 2025 lease payments and assuming the renewal of the lease for five of the communities at the end of its current term on December 31 The leases for 36 of the communities were previously classified as operating leases and have been prospectively classified as financing leases subsequent to the amendment of the leasing arrangements The Company expects the amendment of the leasing arrangements will result in an approximately $8.1 million and $32.8 million decrease in cash paid for operating leases for the three months ending December 31 2024 and the twelve months ending December 31 as a result of the reclassification of lease costs due to financing lease classification and the expected acquisition transactions the Company entered into privately negotiated agreements with certain of the holders of its outstanding 2.00% convertible senior notes due 2026 (the "2026 Notes") to exchange a portion of its existing 2026 Notes for a newly issued series of 2029 New Notes the Company issued $369.4 million aggregate principal amount of its 2029 New Notes $219.4 million principal amount of the 2029 New Notes were issued in exchange for $206.7 million principal amount of the 2026 Notes and $150.0 million principal amount of the 2029 New Notes were issued for cash discounts and estimated expenses payable by the Company $23.3 million in aggregate principal amount of the 2026 Notes remain outstanding with the terms unchanged the Company and Omega Healthcare Investors ("Omega") amended the existing master lease pursuant to which the Company continues to lease 24 communities (2,555 units) from Omega The Company's amended master lease has an initial term to expire on December 31 Omega agreed to make available up to $80.0 million to fund costs associated with capital expenditures for the communities through December 31 The annual rent under the lease will not be adjusted upon reimbursements for capital expenditures in the aggregate amount of up to $30.0 million of the $80.0 million pool which is available in certain tranches through June 30 With respect to the remaining $50.0 million of the $80.0 million pool the annual rent under the lease will prospectively increase by the amount of each reimbursement multiplied by 9.5% The $50.0 million will be available in certain tranches beginning January 1 subject to certain annual reimbursement caps specified in the lease rent will escalate annually per the terms of the existing lease escalator with a potential minor contingent rent adjustment beginning in 2028 depending on lease performance the Company obtained $182.5 million of debt secured by first priority mortgages on 16 communities The loan bears interest at a fixed rate of 5.67% and is interest only for the first two years the Company repaid $197.1 million of outstanding mortgage debt which was scheduled to mature in September 2025 using proceeds from the $182.5 million debt and cash on hand The closing of this transaction results in no remaining debt maturities without extension options through June 2026 The Company expects its fourth quarter 2024 cash facility operating lease payments to be approximately $56.0 million after giving effect to the change in lease classification for communities subject to acquisition agreements the Company expects its full-year 2024 non-development capital expenditures This guidance excludes future acquisition or disposition activity The Company will post on its website at brookdaleinvestors.com supplemental information relating to the Company's third quarter results Brookdale's management will conduct a conference call to discuss the financial results for the third quarter on November 7 A webcast of the conference call will be available to the public on a listen-only basis at brookdaleinvestors.com a replay of the webcast will be available until 11:59 PM ET on November 14 2024 by dialing (800) 770-2030 (from within the U.S.) or (647) 362-9199 (from outside of the U.S.) and referencing access code "1482282#" or the equity markets and unemployment among resident family members; changes in reimbursement rates or timing under governmental reimbursement programs including the Medicare and Medicaid programs; the effects of senior housing construction and development and the effects of climate change in geographic areas where the Company is concentrated; terminations of the Company's resident agreements and vacancies in the living spaces it leases; failure to maintain the security and functionality of the Company's information systems including on the nation's economy and debt and equity markets and the local economies in our markets associates (including due to general labor market conditions) including putative class action complaints and the frequency and magnitude of legal actions and liability claims that may arise due to COVID-19 or the Company's response efforts; negative publicity with respect to any lawsuits and uncertainty surrounding federal elections; the impact of seasonal contagious illness or an outbreak of COVID-19 or other contagious disease in the markets in which the Company operates; actions of activist stockholders including a proxy contest; as well as other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission $       743,729 $       717,123 Facility operating expense (excluding facility depreciation and    amortization of $83,479 General and administrative expense (including non-cash stock-   based compensation expense of $3,403 Basic and diluted net income (loss) per share attributable to    Brookdale Senior Living Inc $            (0.22) $            (0.52) $            (0.43) Weighted average shares used in computing basic and diluted    net income (loss) per share $                     254,711 $                     277,971 $                  5,939,123 $                  5,573,435 $                       51,525 $            (118,057) $              (97,900) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating     activities: Prepaid insurance premiums financed with notes payable   Net cash provided by (used in) operating activities   Net cash provided by (used in) investing activities   Net cash provided by (used in) financing activities $              332,045 $              403,276 and transaction and organizational restructuring costs The table below reconciles Adjusted EBITDA from net income (loss) $                        (37,742) $                        (48,811) Transaction and organizational restructuring costs $                         97,816 $                         80,220 The table below reconciles Adjusted Free Cash Flow from net cash provided by (used in) operating activities $                      55,670 $                      45,763 $                     (33,162) $                       (5,306) $                      66,455 Changes in prepaid insurance premiums financed with    notes payable Changes in assets and liabilities for lessor capital    expenditure reimbursements under operating leases $                       (5,526) $                         2,544 NASHVILLE, Tenn., April 8, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) reported today its consolidated occupancy for March 2025 Members of the Highlands Council and representatives from the Highlands Business Partnership officially welcomed the Highlands Café Monday with a celebratory ribbon cutting at its new location At the heart of Highlands Café is a dynamic trio of chefs: Laercio “Junior” Chamon Jr. All three honed their culinary skills at the Brookdale Community College Culinary Program and their paths first converged at Graze Restaurant in Little Silver — a beloved local farm-to-table spot — where their shared philosophy and friendship began to take root people and community is the secret ingredient in every dish they create Chef Chamon — “Junior” — brings more than 25 years of culinary experience to the table though his journey started humbly — with a bucket of oysters and a dream From shucking shellfish at 15 to launching a successful food truck Junior’s story is one of perseverance and passion offers a fresh and fast casual Surf & Turf menu and can be found seasonally at The Seafarer Now back in Highlands — where it all started for him at the iconic Doris & Ed’s — Junior is focused on using food to strengthen community ties and lead a team grounded in shared values: uplifting others Chef Alexander discovered his love for cooking during college launching a culinary career that has spanned two decades With an associate’s degree in culinary arts from Brookdale and a B.A he brings both creativity and thoughtful depth to his dishes His experience ranges from supermarkets to casual fine dining shaped by a calm and deliberate approach and a love for the energy of the kitchen Chef Booket brings an artistic flair to the Highlands Café he followed his heart into the culinary world through Brookdale’s Culinary Education Center with a focus on detail and a drive to create dishes that balance creativity this chef-driven team leads both the front and back of the house creating a space that’s as warm and inviting as a friend’s home The food tastes like it was made with love — because it was locally sourced breakfast and lunch Wednesday through Sunday The menu features house-made specialties like pork belly burritos pancakes from scratch with banana bourbon fosters Stop in Highlands Café and experience it for yourself and be part of something deliciously local The NJFA courses and certifications are as rigorous as traditional college courses and require college level reading skills and college level intellectual capabilities Click here to join now For more information, please email Daniel Colaianni: dcolaianni@brookdalecc.edu The Script to Screen: Introduction to the Entertainment Industry is a mandatory prerequisite for all students This course provides foundational knowledge about the different stages of production and professional expectations in film and television Students will learn industry-specific terminology and processes related to above- and below-the-line positions how a creative project moves from script to screen and how to start and build a film or television career students will be best prepared to advance to the next level of training and start their careers in the industry Students will acquire the knowledge and skills necessary to pursue entry-level positions in the industry including how to obtain employment and the training required to succeed Through a blend of theoretical understanding and practical assignments students will be prepared to navigate the realities of the job market and embark on their careers in the entertainment industry with confidence and professionalism students will have gained a comprehensive understanding of the entertainment industry including its various stages of production Schedule for June 2025 classes will be posted by May 2025 (Hint**The more industry-relevant courses and certifications you complete the more valuable you become to potential employers.) A: Introduction to Production Accounting for Film and Television- Coming Soon B: Introduction to Production Office: Production Coordinating & Management- Schedule for June 2025 classes will be posted by May 2025 C: Introduction to Location Management- Coming Soon terminology and workflow used in production accounting offices in the entertainment industry specifically to support films and television shows It will cover relationships the accounting office may have with various entities The course includes demonstrations of budgeting record-keeping and reporting software as well as hands-on learning experiences students will be prepared for an internship or entry-level job in the production accounting or payroll office of a film or television production This course explores the essential functions of a production office and the responsibilities of the team members that make it up Film or TV Production Managers & Coordinators are members of the production team who provide logistical support and help manage administrative tasks to ensure the production runs smoothly Students will learn that the production office is the core hub for production management as it operates and serves alongside the many departments that play a crucial role in creating a motion picture Students will also gain exposure to those departments and begin to develop an understanding of industry-specific terminology while taking a closer look at the studio filmmaking process from prep to wrap students will have a clear understanding of the team’s roles and responsibilities inside the production office and how each member plays a part in the studio filmmaking process Students will be able to recognize and interpret various documents used throughout production and confidently navigate the production office environment with a path toward pursuing employment Employment as a Production Coordinator or Production Manager requires strong leadership and a thorough understanding of the production process students will gain an in-depth understanding of the role of the locations department in the overall production for film and television from script breakdown during pre-production to scouting Students will also learn about the various job opportunities within the locations department as well as the role and importance of each By integrating both theoretical knowledge and hands-on tasks students will acquire the necessary skills to confidently navigate the intricacies of the job market and commence their careers in the entertainment industry with a strong sense of professionalism students will have a comprehensive understanding of the skills needed to succeed in the entertainment industry as a member of the locations team A: Introduction to Hair & Makeup for Film This course will provide students with an introduction to working on set for film or television productions as a hair or makeup artist students will learn how to bring a story to the screen with the help of hair and makeup; the importance of continuity and sanitizing; practical hair and makeup skills to help bring characters to life; how to be an effective background artist; and what steps to take to help secure a position as a hair or makeup artist students will have the opportunity to practice and execute their own character-based hair and makeup designs during hands-on portions of the class utilizing their creative abilities students will have an understanding of the world of hair and makeup on film and television sets and basic knowledge for hair and makeup application Students will learn about cinematic costume history and iconic industry designers; the costume office organizational structure; job roles and duties in various areas of the Costume Department; and the names and protocols related to various pieces of departmental equipment and tasks Students will also learn how costumes and various film crafts relate to one another on a working production as well as how and why they all must operate in sync students will look at the importance of some non-traditional skills that benefit the department students will have a comprehensive understanding of the Costume Department’s role in a film or television production This course provides an introduction to the fundamental principles and techniques of set construction Students will learn the skills necessary to bring a production’s visual elements to life This course provides an introduction to modern set lighting while hands-on exercises allow the information to come to life Students will learn industry specific on-set standards and terminology and how to properly integrate into the electric department while working smoothly with other interconnected departments They will learn the basics of the electrical systems required to power the lighting needs of the set as well as a thorough understanding of the varied lighting units and equipment needed to succeed students will have gained an understanding of the roles today’s evolving film and television landscape as well as theory and practical knowledge while emphasizing safety and efficiency Grips are responsible for the camera support Grips work in conjunction with the Electric Department in building rigs that support all the lights on a set This course provides an introduction to the Grip Department and the fundamental rigging skills needed to safely create small and large rigs The course will discuss and teach the operation of the tools It will examine light/exposure and discuss how to light interior and exterior scenes It will also cover the different types of rigs involved in camera rigging and the types of dollies and tracks used students will have an understanding of the Grip department’s function and responsibilities in the film and television industry Students will practice fundamental rigging skills and learn the safe operation of Grip equipment and tools All students must pass this course before they can proceed with other courses for their certification All students should have a GED or high school diploma to apply All must pass Script to Screen before they can move into other courses Sign up for the NJFA’s mailing list to see all announcements which will include announcements about scholarship availability A Success Coash will work with each student to advise on optional internships as well as how to make introductions with employers Upon completion of your certificate program you will automatically be listed on njproductionguide.org At the time all classes are in person on the Lincroft campus We are in the process of creating a schedule to include more courses The NJ Film Academy has relationships with every studio and vendor across the state and we look forward to long relationships with all stakeholders to benefit our credential holders You only need to fill out the NJFA application Once you have completed the NJFA application please call 732-224-2683 and Daniel Colaianni will register you Yes. We have multiple colleges across New Jersey partnered with the NJFA. More information is available at njfilmacademy.org All NJFA classes are in person on the Brookdale Lincroft campus at this time industry professionals will be available for the “Breaking In” lecture series starting soon NJFA students will be admitted free with a suggested donation of $10 for the public to attend Please check the website for details as they become available The New Jersey Film Academy is looking for qualified instructors to teach the following courses. If interested, please send your resume to info@njfilmacademy.org Brookdale’s Performing Arts Center is the perfect spot for concerts professional theatrical lighting and sound and a full orchestra pit under the stage deck a reconfigurable black box performance space this space is also available for receptions for events held in the Main Theater The theater also has 2 choral rehearsal rooms available for warm-ups or weekly rehearsals For information about current college programs offered at the PAC, please visit Performing Arts Center. Brookdale Community College proudly unveiled its new state-of-the-art Center for Adult Transition (CAT) today with a ribbon-cutting ceremony celebrating a transformative initiative dedicated to empowering young adults (18+) with intellectual and developmental disabilities The event also marked the announcement of an Open House on February 22 from 1:00 PM to 3:00 PM at 765 Newman Springs Road and community members are invited to explore the facility and learn more about the program The ceremony featured the presentation of official resolutions recognizing this milestone Assemblywomen Margie Donlon and Luanne Peterpaul presented a Joint Legislative Resolution with Senators Vin Gopal and Declan O’Scanlon County Commissioner Ross Licitra delivered one from the Monmouth County Board of County Commissioners to honor the Center’s opening and its impact on the community Funded by the “County College-Based Centers for Adult Transition Grant” from the Office of the Secretary of Higher Education this center equips students with the skills and support needed to transition from secondary school to adulthood “We are proud to have taken this state allocation and transformed it into something truly meaningful a destination where students can develop skills and continue on their pathway to lifelong learning,” said President David M “None of this would have been possible without the support of Noreen Kane and her team This is a remarkable step forward in expanding educational access for all.” The newly opened Center for Adult Transition is designed to foster independence offering pathways for students to lead self-sufficient and fulfilling lives “This program started because of a statewide grant initiative we saw a strong need for expansion,” said Director of Community Programs and Lifelong Learning Noreen Kane and their excitement about being on a college campus reinforced the importance of creating a dedicated space just for them making it a welcoming home where they can thrive The joy the students bring to this space is what makes it so special.” students in the program shared what the new center means to them “We have all been having a really fun time so far at the Brookdale CAT Program Little did we know that we were going to embark on a huge life experience together we are introduced to a famous quote that provides us with a goal or lesson for the week encouraging us to step out of our comfort zones “We each have different dreams and goals that we would like to pursue We are able to learn in a classroom with others who understand and relate to us it’s the first time I feel I am making friendships and learning in a place with people who show kindness and respect The teachers and students are all working together to help us grow into successful adults to become the best versions of ourselves thanks to the education and guidance we are receiving at Brookdale.” Senior Policy Analyst for the Office of the Secretary of Higher Education emphasized the importance of the initiative: “This center is more than just a place It’s amazing to see the impact firsthand and we are excited for all the opportunities this will create for students.” The Center for Adult Transition offers a structured The first year focuses on foundational life skills while the second year prepares students to step onto one of three success pathways: continued education students participate in off-site workplace visits The program also offers Game Nights on select evenings The center’s diverse curriculum includes: Horticulture – Certified horticulturist Molly Gearty will teach students about plant care to enhance confidence and communication skills Fitness – Adaptive fitness programs led by certified trainers from Limitless Adaptive Fitness Culinary Arts – Hands-on cooking classes with Chef Anthony Spaziano covering everything from breakfast prep to Valentine’s Day treats specialized sessions for parents and guardians include Special Needs Financial Planning and NJ ABLE Information Sessions Brookdale Community College welcomes community support to sustain and expand transformative programming at the Center for Adult Transition. To support the Center, donations can be made through the Brookdale Foundation “We are excited to see this vision come to life,” said Program Director Catherine Poss “This facility is more than just a building As Brookdale Community College continues to strengthen its commitment to inclusive education the opening of the Center for Adult Transition marks a significant milestone in providing life-changing opportunities for students with differing abilities For more information about the Center for Adult Transition, visit Brookdale Community College’s website. NASHVILLE, Tenn., Jan. 9, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) reported today its consolidated occupancy for December 2024 Nilson Gallery announces the opening of Harmony a kaleidoscopic digital art exhibition featuring the work of north New Jersey New York and Long Beach Island-based artist Carol Nussbaum This show features Nussbaum’s original photographs inviting viewers to view familiar objects like seashells through her mandala shaped or circular designed fine art Each image offers the eye an adventure in harmony a mandala is structured around a unifying center as with Nussbaum’s kaleidoscope-like creations Nussbaum’s 30 years of graphic design experience and her 15 years of advertising background provided the perfect segue for her as she began to transform her original photographs into digital art be transformed to suggest a period of time or even a movement in the art world,” Nussbaum said “Weaving elements of my travel photographs or even a trip to a toy store into an intricate mandala brings a new mood to the experience.” Her art is part of her search for balance and harmony in life it is a reaction to the chaos and conflict of today’s world,” she said and the work that results hopefully offers the eye and the mind of my audience a healthy and beautiful respite.” The show will be on display from April 15 to June 1 at the Nilson Gallery at the Monmouth Museum on the campus of Brookdale Community College enjoy refreshments and talk about the art process of these highly-layered images Nussbaum is a digital photographer who “paints” with her photographed images creating circular shaped mandalas while maintaining color Nussbaum attended Skidmore College where she studied both fine art and photography She graduated with honors and moved to New York City where she won awards for print and television commercials as an art director in the advertising world Art has always been central to Nussbaum’s core it was as if no single medium of art could contain her Creative roles in her career have included children’s book illustrator