Senior Living Providers Respond to Wildfires, Smoke In Midst of Pandemic

As wildfires burned millions of acres on the West Coast, senior living providers in the region grappled with another problem in addition to the pandemic: thick smoke and poor air quality. Last week, countless people along the West Coast woke up to “apocalyptic” orange and red skies as historic wildfires burned millions of acres of […]

$221M Package Refinances Most of Brookdale’s Near-Term Debt

Brookdale Senior Living (NYSE: BKD) made another move to shore up its financial position during the coronavirus pandemic. The Brentwood, Tennessee-based owner and operator on Thursday announced it obtained a 10-year, $221 million refinancing package for the majority of its outstanding 2020 and 2021 debt maturities. The refinancing was provided by Newmark Knight Frank (Nasdaq: […]

5 Top Concerns for Senior Living This Fall

One thing is certain as the coronavirus pandemic enters its sixth month in the U.S.: Covid-19 is not going away. “We are going to have to live with Covid-19 in the world,” Brookdale Senior Living (NYSE: BKD) CEO Cindy Baier told Senior Housing News. And, in many regards, the senior living industry is in fact […]

Transactions & Financings: Brookdale Closes $250M Credit Facility; Lancaster Pollard’s $58M Deal Volume

Brookdale terminates $250M credit facility; refinances assets Brookdale Senior Living (NYSE: BKD) secured $267 million of non-recourse mortgage debt and terminated its $250 million revolving credit facility. The debt was obtained from Capital One, through Freddie Mac’s Capital Markets Execution Program. The financing includes $191 million of 2.89% fixed rate notes and $76 million of […]

Brookdale Chief Information Officer Bayham Departs After One Year

Brookdale Senior Living (NYSE: BKD) Chief Information Officer Chris Bayham has left the company after one year. Bayham is joining XSOLIS, a health care technology firm based in Nashville, Tennessee, as chief operating officer. He will be responsible for strategic planning and operational execution across XSOLIS’ technology and service lines. Founded in 2013 as a […]

Brookdale Occupancy Slumps to 76.6% But Company Improves Financial Footing

While Brookdale Senior Living’s (NYSE: BKD) occupancy and revenue have dipped substantially since the Covid-19 pandemic began, several recent moves have helped put it on firmer financial footing. The Brentwood, Tennessee-based company’s average occupancy rate hit 76.6% at the end of July subsequent to shedding 430 basis points in the second quarter of 2020, sequentially. […]

Ventas Restructuring Gives Brookdale $500M Rent Savings Over 5 Years

Ventas (NYSE: VTR) and Brookdale Senior Living (NYSE: BKD) announced a revised master lease agreement Monday in which Brentwood, Tennessee-based operator Brookdale receives up to $500 million in rent reduction over the next five years. Ventas, a Chicago-based real estate investment trust (REIT), gains a potential equity stake in Brookdale. This agreement is designed to […]

What Senior Living Providers Are Doing — And Could Be Doing Better — in Response to Black Lives Matter

Senior living providers — like many businesses across the United States — have been responding to the Black Lives Matter movement with a variety of messages and actions. To get a sense of how providers are responding, I spoke with several CEOs and corresponded with many of the largest for-profit and nonprofit organizations in the […]