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$327M Refi for Brookdale Senior Living
New York-based Berkadia arranged $327 million in financing on behalf of Tennessee-based Brookdale Senior Living, Inc. for 28 senior housing facilities representing roughly 2,200 units. The 10-year, non-recourse Structured Pool Transaction features fixed and variable rate loan components and a 30-year amortization schedule.
The fixed rate component was $213 million, and the variable rate component was $114 million. The property was financed through Freddie Mac’s Green Advantage program, which provides competitive pricing to finance upgrades that reduce energy or water consumption.
Berkadia’s Heidi Brunet and Lisa Lautner originated the refinancing transaction through Freddie Mac’s new Structured Pool Transaction program.
Brookdale’s George Hicks (pictured) says, “The Seniors Housing Structured Pool Transaction allows us to achieve interest rate risk diversification by placing most of the debt into a fixed rate, while allowing for the ability to obtain partial releases that can be repaid out of the variable rate portion.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
