Brookdale Senior Living secured $248.9 million in refinancing for a 5,027-unit seniors housing portfolio spanning 45 properties and 14 states.
The portfolio consists of 45 communities offering various combinations of independent living, assisted living and memory care and several full continuum rental continuing care communities that offer independent living, assisted living, memory care and skilled nursing. The portfolio spans major markets, including Charlotte, N.C.; Dallas; Denver; Ft. Meyers, Fla.; Houston; Los Angeles; Phoenix; and San Francisco, among others.
Portfolio occupancy has shown consistent improvement and strong operational performance, reflecting strategic management initiatives implemented across the portfolio.
JLL worked on behalf of the borrower to secure the five-year, fixed-rate loan through Fannie Mae. Loan proceeds refinanced one tranche of a three-tranche credit facility that JLL arranged between Brookdale and Fannie Mae in 2017.
