Brian Tanquilut

Joanna Gajuk

Joshua Raskin

Tao Qiu

Andrew Mok

Benjamin Hendrix

Ben Hendrix

Michael Murray

- Brookdale Senior Living achieved an **80% occupancy inflection point in Q2 2025**, resulting in **cash flow positive results for both Q1 and Q2 2025**, with August occupancy further increasing to **81.5%**.  **[1332349_2162312_1]** **[1332349_2162312_2]**  The company anticipates returning to its pre-pandemic occupancy of **89%** and expects to achieve pre-pandemic margins.  **[1332349_2162312_3]** **[1332349_2162312_5]** 
- The company is actively focused on delevering its balance sheet, with current guidance projecting leverage at **low nine times**, a significant reduction from nearly **20 times post-COVID**.  **[1332349_2162312_7]**  This deleveraging is primarily driven by **Adjusted EBITDA growth** and the planned disposition of **14 assets this year** and **28 additional assets over the next 12-18 months**.  **[1332349_2162312_7]** 
- Brookdale is rationalizing its portfolio, reducing the number of communities from **645 in Q2 2025** to an expected **550 by mid-2026**, and is shifting its asset base to be **70% owned by mid-2026**, up from over 50% leased historically.  **[1332349_2162312_1]** **[1332349_2162312_2]** 
- The senior housing market benefits from a **favorable supply-demand imbalance**, characterized by new construction at an all-time low and an anticipated **one million baby boomers turning 80 annually through 2026**, creating strong tailwinds for the industry.  **[1332349_2162312_1]**

Brookdale Senior Living (BKD)