Brookdale Senior Living obtains $117M first mortgage loan

Brookdale Senior Living Inc. (NYSE: BKD) announced today that the Company has obtained a $117.0 million first mortgage loan from Berkadia Commerical Mortgage and Fannie Mae.  The mortgage debt has a 10 year term and bears interest at a fixed rate of 5.98%.  The Company simultaneously repaid $119.0 million of mortgage debt which was scheduled to mature in 2011.  The new mortgage debt is secured by four previously unencumbered communities and 15 of 22 communities that previously served as collateral for the loans that were repaid.

Bill Sheriff, Brookdale's CEO, commented, "We are pleased to have taken the first step of several to come to address all of the Company's 2011 debt maturities and a portion of the Company's 2012 maturities in the near term."

Posted in:

Tags:

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.