JLL Capital Markets facilitates loan for 47-property independent- and assisted-living portfolio across 14 states
News release
08 January 2025
$344.2M financing secured for Brookdale Senior Living Portfolio
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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.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Brookdale Senior Living
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, through its affiliates, operates independent living, assisted living, memory care and continuing care retirement communities. Through its comprehensive network, Brookdale helps to provide seniors with care, connection 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, make new friends and stay connected with loved ones. Brookdale, through its affiliates, operates and manages 648 communities in 41 states as of September 30, 2024, with the ability to serve approximately 58,000 residents. Brookdale's stock trades on the New York Stock Exchange under the ticker symbol BKD. For more information, visit brookdale.com or connect with Brookdale on Facebook or YouTube.