Berkadia Provides $327M Freddie Mac Financing for 2,200-Unit Brookdale Portfolio

by Jeff Shaw

NEW YORK CITY — Berkadia, a New York-based investment sales and mortgage banking firm, has closed $327 million in Freddie Mac financing for Brookdale Senior Living, the largest owner and operator of seniors housing in the United States.

The funds will refinance a 28-property, 2,200-unit portfolio of Brookdale-owned seniors housing communities. The specific names and locations of the properties were not disclosed.

Heidi Brunet and Lisa Lautner of Berkadia’s Seniors Housing & Healthcare team originated the transaction through Freddie Mac’s new Structured Pool Transaction program. 

The 10-year, non-recourse financing features fixed and variable rate loan components and a 30-year amortization schedule. The fixed rate component totals $213 million while the variable rate component totals $114 million.

The property was financed through Freddie Mac’s Green Advantage program, which provides competitive pricing to finance upgrades that reduce energy or water consumption.

Freddie Mac’s Structured Pool Transaction targets large transactions and provides enhanced structuring to meet the borrower’s specific needs. The program provides various options, including combinations of fixed- and floating-rate debt components, no property assignments for the debt type, flexible releases and prepayments, faster joint underwriting path, and other features.

You may also like