Brookdale Senior Living Inc. has successfully completed two financing transactions in June 2026, addressing a portion of its 2027 debt maturities and expanding its liquidity. The company secured $188 million in new loans and increased its revolving credit facility commitment by $100 million, strengthening its financial position through extended maturities and favorable terms.

Freddie Mac Optigo Loan Refinancing

The company obtained an aggregate of $188 million in loans from CBRE National Senior Housing through the Freddie Mac Optigo loan origination program. Proceeds were used to repay $200 million of outstanding mortgage debt secured by 22 communities that were previously scheduled to mature in 2027.

The new financing is secured by non-recourse first lien mortgages on 13 communities. Key terms of the loan include:

Revolving Credit Facility Amendment

Brookdale amended its revolving credit agreement with Capital One, National Association, acting as Administrative Agent and Lead Arranger, Ally Bank as Documentation Agent, and CIBC Bank USA as a participating lender. The amended agreement provides an expanded total commitment of up to $200 million, an increase of $100 million from the existing facility.

The facility matures in April 2029, with options to extend for two additional one-year terms subject to certain conditions. Available capacity varies based on the appraised value and performance of the securing communities. Interest rates are set at SOFR plus an applicable margin, which scales based on utilization:

• 2.50% margin: Utilization lower than 50%
• 2.25% margin: Utilization equal to or greater than 50%

Management Commentary

Dawn Kussow, Chief Financial Officer of Brookdale, highlighted the strategic benefits of the transactions. "We are pleased to have successfully and proactively refinanced an additional portion of our 2027 mortgage debt on attractive financial terms, extending our maturities while using fewer communities in the collateral pool," Kussow stated. She further noted that the expanded credit facility reflects the continued confidence of banking partners in Brookdale's strategy and long-term prospects.

Legend Senior Living has expanded its footprint in Pennsylvania by welcoming Apple Blossom Senior Living in Moon Township as its newest community. The addition brings the company's total portfolio to 78 senior living residences across eight states, reinforcing its strategic growth in the region. Apple Blossom offers a continuum of care, including Independent Living cottages, Personal Care, and Memory Care, aligning with Legend's personalized approach to senior living.

Located near Pittsburgh, Apple Blossom Senior Living is known for its supportive environment and commitment to helping older adults live with dignity and independence. Matt Buchanan, President and Co-CEO of Legend Senior Living, highlighted the significance of this move, noting that Pennsylvania has become an increasingly important market for the company. He emphasized the honor of serving existing residents and building on the community's strong reputation.

Expansion Details

With this acquisition, Legend Senior Living continues to invest in communities that provide exceptional experiences for residents and families. The company operates in Colorado, Florida, Kansas, Missouri, New Jersey, Oklahoma, Pennsylvania, and Texas, offering Independent Living, Assisted Living, Memory Care, and Personal Care services.

Commitment to Quality Care

Residents at Apple Blossom can expect a seamless transition under Legend's management, with a continued focus on quality care and personalized services. Legend's family-led approach prioritizes individualized support and strong relationships, aiming to create environments where older adults can thrive physically, socially, emotionally, and spiritually. This expansion further solidifies Legend's position as a leading senior living provider in Pennsylvania.