Berkadia Secures $221 Million in Financing for Brookdale Senior Living Inc.

August 18, 2017

NEW YORK – August 18, 2017 – Berkadia announced today the closing of $221 million in financing for Brookdale Senior Living Inc. Berkadia’s Managing Directors Heidi Brunet and Christopher Fenton of the Seniors Housing & Healthcare team originated the transaction through Fannie Mae. The financing closed on July 11.

The ten-year, non-recourse, Credit Facility was used to refinance two existing Brookdale loan portfolios and features fixed and variable rate tranches, a 75 percent loan-to-value ratio and a 30-year amortization schedule. Approximately 70 percent of the principal bears interest at a fixed rate, with the remainder at a variable rate.

“The Fannie Mae Credit Facility product provided Brookdale flexibility to meet their financing needs,” said Brunet. “The Brookdale team, the Fannie Mae team and the Berkadia underwriting team worked together to make this transaction a seamless process.”

Brookdale Senior Living is the leading seniors housing operator in the country and operates 1,036 communities with the ability to serve approximately 102,000 residents as of June 30, 2017.

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