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Brookdale Portfolio | Various Locations
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[Houston, Texas, October 31, 2022] CBRE National Senior Housing arranged a refinancing of a national senior housing portfolio (the “Portfolio”) on behalf of Brookdale Senior Living Inc. (“Brookdale”). Aron Will, Vice Chairman of CBRE National Senior Housing, and Matthew Kuronen, Vice President of CBRE National Senior Housing, arranged the financing.
The Portfolio is comprised of 24 communities with 2,377 total units which include 720 Independent Living units, 1,205 Assisted Living units, 386 Memory Care units and 66 Skilled Nursing units located across 12 states.
CBRE National Senior Housing acted as financial advisor to Brookdale in securing a three year, $220M floating rate loan through a syndication between Capital One, National Association and Synovus Bank to facilitate the refinance. The debt carries a variable interest rate of 2.45% over SOFR, and is interest only for the first three years.
Brookdale Senior Living Inc. is the nation's premier operator of senior living communities. The Company is committed to its mission of enriching the lives of the people it serves with compassion, respect, excellence and integrity. The Company operates independent living, assisted living, memory care, and continuing care retirement communities. Through its comprehensive network, Brookdale helps to provide seniors with care and services in an environment that feels like home. The Company's expertise in healthcare, hospitality and real estate provides residents with opportunities to improve wellness, pursue passions and stay connected with friends and loved ones. Brookdale operates and manages 672 communities in 41 states as of September 30, 2022, with the ability to serve more than 60,000 residents. Brookdale's stock trades on the New York Stock Exchange under the ticker symbol BKD.
CBRE was the #1 Fannie Mae Senior Housing Lender in 2019 and 2016. From 2014 through 2021, CBRE originated $10 billion in senior housing debt across 425 assets. CBRE completed $17.3 billion in combined senior housing investment sales and loan originations from 2014 through 2021. In 2017, CBRE was the #1 senior housing capital intermediary in the country. CBRE has been a Top 3 senior housing originator in the country from 2015 through 2020. CBRE was the #1 GSE lender in the nation in 2021 with over $14 billion in Fannie Mae, Freddie Mac, and HUD originations.
- #1 Fannie Mae Senior Housing Lender in 2019 and 2016
- #2 Senior Housing Freddie Mac Lender in 2021
- $10 Billion in senior housing debt originations in 2014 through 2021 across 425 assets
- #1 Senior Housing Intermediary in 2017
- Top 3 Senior Housing Lender 2010-2020*
- #2 Senior Housing Freddie Mac Lender in 2021
- #1 Agency originator in the nation in 2021: Over $14 billion in originations
- Over $20 billion in Agency originations in 2020
- #1 Freddie Mac Lender in 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020
- #2 Fannie Mae Lender in 2020 and 2021
- $17.3 Billion in combined senior housing investment sales & debt originations from 2014 through 2021
- Fannie Mae, Freddie Mac, HUD FHA, Mezzanine & Construction Debt Placement
*As per the Mortgage Bankers Association |
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