Brookdale Completes Two Refinances For $219 Million

Brookdale Senior Living Inc. (NYSE: BKD) has completed two mortgage debt refinancing transactions in the aggregate principal amount of $219.0 million.  Brookdale recently obtained a $181.0 million fixed rate first mortgage loan from Prudential Mortgage Capital Company and a $38.0 million variable rate first mortgage loan from GE Capital, Healthcare Financial Services.  The blended rate of interest on the loans is 5.96% and the proceeds satisfied debt obligations scheduled to mature in 2011 and 2012.

"We have now addressed all of the Company’s 2011 debt maturities and a significant portion of the Company’s 2012 maturities. We expect to continue to make progress on extending and laddering our mortgage debt maturity schedule," said Bill Sheriff, Brookdale’s Chief Executive Officer.