Brookdale Senior Living Refinances Debt and Expands Credit Access

The company obtained the $188 million in funding through the Freddie Mac Optigo program, using the capital to retire $200 million in debt tied to 22 communities. These new loans, secured by 13 properties, carry a fixed interest rate of 5.97% and shift the maturity horizon to 2036. By consolidating this debt, the firm effectively reduced the number of assets pledged as collateral while clearing near-term payment hurdles.

Simultaneously, Brookdale renegotiated its revolving credit agreement with a syndicate led by Capital One. The facility limit has been raised to $200 million, a $100 million increase over previous terms. The new agreement runs through April 2029, with options for two one-year extensions. CFO Dawn Kussow noted that the expanded credit line underscores lender confidence in the company’s ongoing performance and long-term strategy.