NASHVILLE, Tenn., Sept. 10, 2020 /PRNewswire/ -- Brookdale
Senior Living Inc. (NYSE: BKD) ("Brookdale" or "the Company")
announced today that it recently completed another significant
financing transaction totaling $221
million, and has now refinanced substantially all of its
remaining 2020 and 2021 maturities.
On September 9, 2020, the Company
obtained $221 million of ten-year
mortgage financing from Newmark Knight
Frank pursuant to Freddie Mac's Capital Markets Execution
Program. The financing includes $157
million of 3.18 percent fixed rate notes and $64 million of adjustable rate notes with an
initial rate of 2.70 percent. The first priority mortgages were
secured by 27 senior living communities, most of which had
previously secured Freddie Mac loans maturing in 2021.
Steven Swain, Brookdale's
Executive Vice President and Chief Financial Officer,
said, "We've taken multiple proactive steps to enhance our
liquidity in recent quarters. In the regular course of business, we
are pleased to have now refinanced the vast majority of our 2020
and 2021 maturities at an attractive initial weighted average loan
rate of 3.04 percent. We would like to thank Newmark Knight Frank and Freddie Mac for their
continued partnership."
About Brookdale Senior Living
Brookdale Senior Living
Inc. is the leading operator of senior living communities
throughout the United States. The
Company is committed to providing senior living solutions primarily
within properties that are designed, purpose-built, and operated to
provide the highest-quality service, care, and living
accommodations for residents. Brookdale operates and manages
independent living, assisted living, memory care, and continuing
care retirement communities, with 737 communities in 44 states and
the ability to serve approximately 65,000 residents as of
June 30, 2020. The Company also
offers a range of home health, hospice, and outpatient therapy
services to over 17,000 patients as of that date. Brookdale's stock
is traded on the New York Stock Exchange under the ticker symbol
BKD.
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SOURCE Brookdale Senior Living Inc.