A Wall Street Journal report on the news sent Brookdale's share price soaring 16.3% to $14.94 per share ahead of market's close Tuesday. The report noted the discussions are early stage and may not result in a sale of Brookdale outright. Additionally, the report noted that others could be involved in discussions.
If the rumors are true, it wouldn't come as a surprise: Blackstone and Brookdale have worked together in the past.
Blackstone Real Estate Partners VIII LP bought properties Brookdale was leasing from HCP for $1.125 billion back in November. Separately, Brookdale and Blackstone were working to create a joint venture into which Blackstone will contribute the portfolio when the transaction with HCP is complete.
And Brookdale had previously discussed plans to divest its numerous non-core assets.
Back in July, Brookdale sold 44 communities for a total of $252.5 million to an unidentified buyer. The communities, located across 12 states, include 1,874 assisted living units and 579 memory care units.
Prior to that, Brookdale sold seven other communities in undisclosed locations for $46.7 million.
Brookdale indicated plans to sell at least 42 communities in 2016.
Brookdale officials wrote via email that "as a matter of policy, Brookdale does not comment on market rumors or speculation."
Blackstone officials did respond immediately to requests for comment.