DALLAS, Jan. 8, 2025 - JLL Capital Markets announced today that it has secured a $344.2 million agency lending for the Brookdale Senior Living Portfolio, comprising 47 senior living communities across 14 states.
JLL represented the borrower, Brookdale Senior Living, to originate the seven-year, fixed-rate loan under its Master Credit Facility Agreement with Fannie Mae. Proceeds were used to repay $312.5 million of variable rate debt due September 2027. The loan will be serviced by JLL Real Estate Capital, LLC.
The Brookdale Senior Living Portfolio consists of 5,102 units offering a diverse range of care options including independent, assisted and memory care units. This mix allows Brookdale Senior Living to cater to seniors with varying levels of care needs, from those seeking an active, independent lifestyle to those requiring more specialized care such as memory care services. The 47-property portfolio benefits from geographic diversification across 14 states, with properties ranging from 32 to over 300 units.
JLL Capital Market's Debt Advisory team representing the borrower was led by Managing Director Allison Holland and Associate Alex Sheaffer.
"This transaction highlights the continued strength of the agency lending market for quality senior housing portfolios," said Holland. "The successful refinancing provides Brookdale with improved cash flow and extended debt maturity, positioning them for continued growth in the senior living sector."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on January 08, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 08, 2025 at 21:14:17.892.
