The sale of Seattle-based assisted living operator Emeritus to Brookdale Senior Living of Nashville was completed Thursday, creating a company with more than 1,100 facilities and room for 110,000 aging residents.
The acquisition will eliminate about 250 jobs at the Emeritus headquarters.
Brookdale in February agreed to acquire Emeritus for $1.4 billion in stock and $1.4 billion in assumed debt.
At that time Emeritus employed about 300 at its headquarters near the Olympic Sculpture Park. Following the sale, “we have approximately 50 employees staying on locally,” and about 15 others relocating to Brookdale offices in Nashville or Milwaukee, said spokeswoman Karen Lucas.
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Emeritus president and CEO Granger Cobb will join the Brookdale board.