Senior Housing News December 23, 2024
Brookdale has refinanced more than $300 million of its 2027 debt maturities.
The company received a $344 million loan under a master credit facility agreement, and the financing was used to repay variable rate debt due September 2027 while increasing Brookdale’s liquidity, according to a press release issued Monday.
The principal amount of the new debt is “secured by non-recourse first priority mortgages” on 47 communities and secures an additional $435 million of additional outstanding mortgages.
The release states the new loan has a fixed interest rate of 6.14%, is interest-only for the first two years, and matures in January 2032. Brookdale paid $312.5 million of outstanding mortgage...
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