Paul, Weiss client HCP, Inc. announced that it has entered into a definitive agreement to acquire from Chartwell Retirement Residences a portfolio of private pay senior housing communities for $849 million. The portfolio will be acquired using a RIDEA joint venture structure formed by HCP in which Brookdale Senior Living will own a 10 percent interest.

The Paul, Weiss team included corporate partner Robert Schumer; real estate partners Harris Freidus and Salvatore Gogliormella; tax partner Scott Sontag; antitrust counsels Didier Malaquin and Marta Kelly; intellectual property counsel Claudine Meredith-Goujon; employee benefits counsel Erin Murphy; and environmental counsel William O’Brien.