Here are 1-3 brief analogies to describe Brookdale Senior Living:

• Brookdale Senior Living is like a **Marriott for seniors**.
• Brookdale Senior Living is like a **Club Med for retirees**.

• Independent Living: Provides housing and amenities for active seniors who desire a maintenance-free lifestyle with social opportunities.
• Assisted Living: Offers personalized assistance with daily activities like bathing, dressing, and medication management for seniors needing some support.
• Memory Care: Delivers specialized programs and secure environments designed for residents living with Alzheimer's disease or other forms of dementia.
• Skilled Nursing: Provides 24-hour medical care and rehabilitation services for seniors recovering from illness, injury, or managing chronic conditions.
• Home Health: Offers professional medical and non-medical support services directly to seniors within the comfort of their own homes.
• Hospice: Delivers compassionate end-of-life care, comfort, and support services to individuals with a terminal illness and their families.

For Brookdale Senior Living (BKD), the company primarily sells its services directly to individuals, specifically seniors and their families seeking various levels of care and lifestyle options. The company operates senior living communities that cater to different needs.

Here are up to three categories of customers that Brookdale Senior Living serves:

• Independent Living Residents: These customers are generally active and healthy seniors who desire a maintenance-free lifestyle, social engagement, and amenities without needing daily personal care assistance. They often appreciate the convenience, security, and community atmosphere offered by independent living communities.
• Assisted Living Residents: This category includes seniors who require assistance with Activities of Daily Living (ADLs) such as bathing, dressing, grooming, medication management, and mobility. Assisted living provides support while promoting independence, with personalized care plans tailored to individual needs.
• Memory Care Residents: These customers are individuals living with Alzheimer's disease or other forms of dementia. Memory care communities offer specialized programs, secure environments, and trained staff to provide compassionate care, engagement, and support for residents with cognitive impairments.

• Optum (part of UnitedHealth Group, symbol: UNH)

Nick Stengle, Chief Executive Officer and Member of the Board of Directors

Nick Stengle joined Brookdale Senior Living in October 2025 as Chief Executive Officer and a member of the Board of Directors. He brings extensive leadership and operational experience in multi-site, geographically dispersed healthcare settings, with a deep understanding of the senior living, healthcare, and hospitality industries. Prior to joining Brookdale, Mr. Stengle served nearly three years as President and Chief Operating Officer of Gentiva, a leading provider of hospice, palliative, and home health services. He also held the role of Executive Vice President and Chief Operating Officer for Kindred at Home, Gentiva's predecessor company. Between his two tenures at Gentiva, he was Executive Vice President and Chief Operating Officer for Sunrise Senior Living. Before 2020, Mr. Stengle was a member of the portfolio operations team for TPG Capital, indicating a background with private equity-backed companies. He served 11 years in the United States Air Force, including roles as a Top Gun Instructor Pilot and Combat Fighter Pilot.

Dawn Kussow, Executive Vice President and Chief Financial Officer

Dawn Kussow joined Brookdale in March 2007 and has served as Executive Vice President and Chief Financial Officer since February 2023. She also served as Interim Chief Financial Officer from August 2022 to October 2022. Her previous roles at Brookdale include Senior Vice President and Chief Accounting Officer (January 2016 to January 2023), Vice President and Corporate Controller (February 2014 to January 2016), Senior Director of Financial Reporting (June 2009 to January 2014), and Director of Financial Reporting (March 2007 to May 2009). Before joining Brookdale, Ms. Kussow was Director of Financial Reporting for AON Hewitt and a Senior Manager for Deloitte & Touche, LLP in Turin, Italy. She is a Certified Public Accountant.

Chad C. White, Executive Vice President, General Counsel and Secretary

Chad C. White joined Brookdale in February 2007 and has held the title of Executive Vice President since January 2018, General Counsel since March 2017, and Secretary since March 2013. His prior positions at Brookdale include Senior Vice President and General Counsel, Senior Vice President and Co-General Counsel, Vice President and Co-General Counsel, and Associate General Counsel and Assistant Secretary. Before his tenure at Brookdale, Mr. White served in legal capacities for Dollar General Corporation and Bass, Berry & Sims PLC.

Mary Sue Patchett, Interim Executive Vice President – Community & Field Operations

Mary Sue Patchett rejoined Brookdale in August 2025 as Interim Executive Vice President – Community & Field Operations. She previously held various senior leadership positions at Brookdale Senior Living from 2011 until her retirement in 2021, including Executive Vice President of Strategic Operations (March 2020 to June 2021), Executive Vice President of Community and Field Operations, and President of the Southeast Division. Prior to her initial time at Brookdale, Ms. Patchett served as Chief Operating Officer of Horizon Bay from January 2011 through August 2011 and Senior Vice President of Operations from March 2008 through December 2011. She also owned and operated Patchett & Associates, Inc., a management consulting firm specializing in senior housing and healthcare, and was a Divisional Vice President for Alterra for over six years. She began her career in senior living with nine years in various leadership roles at Sunrise Senior Living.

Jaclyn Pritchett, Executive Vice President – Human Resources

Jaclyn Pritchett joined Brookdale in 2016 and has served as Executive Vice President – Human Resources since March 2022. Her previous roles at Brookdale include Senior Vice President – Human Resources (January 2021), Senior Vice President – HR Field Operations and Talent Management (October 2020 to January 2021), and Vice President of HR Field Operations (March 2019 to October 2020), along with other human resources management positions from 2016 to February 2019. Before joining Brookdale, Ms. Pritchett was the Senior Manager of Leadership Development at Bridgestone Americas.

• The severe and persistent labor shortages, particularly for caregivers and nurses, leading to significant wage inflation and increased reliance on agency staff. This directly impacts Brookdale's operating expenses and ability to maintain optimal staffing levels, presenting a clear and worsening threat to profitability and service quality.
• Rising interest rates are increasing the cost of capital for a highly leveraged, capital-intensive business like Brookdale Senior Living. This impacts financing costs for existing debt, makes new developments or acquisitions more expensive, and pressures the company's financial flexibility and profitability.
• The accelerating trend and technological enablement of "aging in place." As home health services expand, and remote monitoring and smart home technologies advance, more seniors are choosing and able to remain in their homes longer, potentially delaying or reducing the demand for traditional senior living communities and impacting occupancy rates.

• Assisted Living: The U.S. assisted living facility market size was estimated at USD 44.38 billion in 2024 and is expected to reach USD 93.54 billion by 2033, growing at a CAGR of 8.69% from 2025 to 2033. Another report valued the U.S. assisted living facility market at USD 89.4 billion in 2024, projected to reach USD 129.2 billion by 2031 with a CAGR of 5.4% from 2024 to 2031. Additionally, the U.S. assisted living facility market size is valued at USD 103.5 billion in 2024 and is predicted to reach USD 182.3 billion by 2034 with a 5.9% CAGR during the forecast period from 2025 to 2034.
• Memory Care: The U.S. memory care market size was valued at USD 5.82 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030, reaching USD 8.61 billion by 2030. Another estimate valued the U.S. memory care market size at USD 6.95 billion in 2023, projected to hit around USD 11.54 billion by 2033, growing at a CAGR of 5.2% during the forecast period from 2024 to 2033.
• Skilled Nursing Facilities: The U.S. market for skilled nursing facilities is estimated to be worth USD 202.4 billion in 2025 and is anticipated to reach USD 279.9 billion by 2035, with spending projected to rise at a CAGR of 3.3% from 2025 to 2035. The U.S. skilled nursing facility market size was valued at USD 227.5 billion in 2022 and is expected to expand at a CAGR of 3.99% from 2023 to 2030. Another source indicates the U.S. skilled nursing facility market size was USD 180.95 billion in 2023 and is projected to hit around USD 253.77 billion by 2033, growing at a CAGR of 3.44% during the forecast period from 2024 to 2033.
• Independent Living: The independent living segment accounted for 20.9% of the total senior housing and care inventory in the United States as of Q1 2022. The active adult (55+) communities/independent living segment held the largest share of 70.02% of the U.S. senior living market in 2024.
• Overall Senior Living Market (U.S.): The U.S. senior living market size was estimated at USD 907.59 billion in 2024 and is expected to reach USD 1.33 trillion by 2033, growing at a CAGR of 4.42% from 2025 to 2033. Another source valued the U.S. senior living market at USD 923.75 billion in 2023 and projected it to reach around USD 1,391.23 billion by 2033, growing at a CAGR of 4.18% during the forecast period from 2024 to 2033. The U.S. senior living market size was valued at USD 125.44 billion in 2024 and is projected to reach USD 185.47 billion by 2032, growing at a CAGR of 5.01% from 2026 to 2032.

1. Occupancy Growth: Brookdale Senior Living is actively focused on increasing its occupancy rates. The company has achieved its highest occupancy since before the pandemic, with consolidated weighted average occupancy reaching 81.8% in Q3 2025 and closing day consolidated occupancy at 83.8%. Management emphasizes moving communities into higher occupancy bands, which is a critical inflection point for cash flow generation.
2. Revenue Per Available Room (RevPAR) / Resident Fee Increases: The company has demonstrated consistent year-over-year RevPAR growth, with a 5.1% increase in Q2 2025 and a 5.9% increase in Q3 2025. Brookdale has also raised its 2025 RevPAR growth guidance to a range of 5.25% to 6.00% and aims to ensure rate growth outpaces expense growth. This indicates a strategy of both increasing the number of occupied rooms and the revenue generated from each room through higher resident fees.
3. Portfolio Optimization: Brookdale is undertaking a strategic portfolio optimization plan, which involves exiting underperforming leased assets and disposing of certain owned communities to enhance the overall profitability and efficiency of its operations. The company plans to reduce its community count to approximately 550 by mid-2026, including the transition of 55 Ventas nonrenewal communities by year-end 2025. This streamlining is expected to lead to a more profitable and higher-performing asset base.
4. Demographic Tailwinds: The senior living industry is benefiting from robust demand driven by an aging population and limited new supply of senior living facilities. This favorable market environment provides a strong underlying foundation for sustained organic growth for Brookdale Senior Living as demand for senior care services continues to increase.
5. Operational Strategies and Service Offerings: Initiatives such as the rollout of "Brookdale Health Plus" are contributing to improved resident outcomes and an increase in occupancy rates. These operational improvements and service enhancements aim to attract and retain residents, thereby driving revenue growth.

Share Repurchases

No significant share repurchases or future authorizations were explicitly reported in the provided information for the last 3-5 years.

Share Issuance

• In March 2025, Brookdale elected to early settle all prepaid stock purchase contracts, which were components of 7.00% tangible equity units issued in November 2022. This settlement resulted in the issuance of 12.9341 shares of common stock per purchase contract.
• In September 2021, Brookdale proposed to offer $200 million aggregate principal amount of convertible senior notes due 2026 for general corporate purposes, including refinancing debt.

Inbound Investments

• Institutional ownership in Brookdale Senior Living is notably high, standing at 96.55% in October 2025.
• In October 2025, Night Watch Investment Management LP reentered a position in Brookdale, driven by an anticipated surge in demand for senior living facilities.
• Deerfield Management Company and Flat Footed, LLC purchased $150 million of new 3.50% Convertible Senior Notes due in 2029 in September 2024, as part of funding for acquisitions.

Outbound Investments

• In September 2024, Brookdale agreed to acquire 41 senior living communities it currently leases for a total of $610 million, aiming to enhance its owned real estate portfolio and improve 2025 Adjusted EBITDA and Adjusted Free Cash Flow.

Capital Expenditures

• Brookdale anticipates deploying capital to fund planned capital expenditures, among other uses.
• In 2024, Brookdale secured an additional $35 million in landlord-funded capital expenditures as part of an amended lease with Ventas, Inc.
• Non-development capital expenditures in the first quarter of 2022 increased primarily due to investments aimed at reopening communities for move-ins to rebuild occupancy lost during the pandemic. The company reiterates its expectation to deliver positive Adjusted Free Cash Flow in the range of $30 million to $50 million for the full year 2025.