Senior Living Dealbook: Brookdale Announces Refinancing; Bwe Investment Sales Sells Two Communities

Financings

Brookdale announces refinancing

Brookdale (NYSE: BKD) announced it completed a refinancing transaction with KeyBank to extend a significant portion of its 2027 debt maturities.

Brookdale obtained “an aggregate $185 million of debt on seven communities and repaid $191 million of outstanding mortgage debt secured by 11 communities previously scheduled to mature in March 2027,” according to a press release.

The principal amounts of the new loans “are secured by non-recourse first mortgages, bear interest at a fixed rate of 5.38%, are interest only for the first two years and mature in April 2033,” the release states.

BWE originates $40M cash-out refinancing

BWE, a commercial and multifamily mortgage banking company, announced it originated a $40 million cash-out refinancing on behalf of Rauls Living.

The 167-unit class A independent living community is located in Morrisville, North Carolina. Rauls Living is a third-generation, family-owned owner-operator with more than 50 years of experience in seniors housing, according to a press release.

Taylor Mokris, senior vice president of seniors housing and care, and Ryan Stoll, national director of seniors housing and care at BWE, originated the financing through Freddie Mac, the release states.

CBRE refinances Cogir community

CBRE National Senior Housing arranged the refinancing of Harvard Square by Cogir.

The transaction represents the third successful financing of the community by the CBRE National Senior Housing team over the last dozen years, according to a press release.

Aron Will, vice chairman of CBRE National Senior Housing, and Adam Mincberg, senior vice president of CBRE National Senior Housing, arranged the financing, the release states.

Transactions

BWE Investment Sales sells two communities

BWE Investment Sales announced it sold two assisted living/memory care communities located on Long Island.

The communities, formerly known as Village Green Senior Living in Levittown and Village Walk Senior Living in Patchogue, have been rebranded as Atria Levittown and Atria Patchogue, according to a press release.

BWEIS represented the communities’ developer and seller, The D&F Development Group. The communities were sold to Atria Senior Living in partnership with Fundamental Advisors and Scribner Capital, LLC, the release states.

Blueprint facilitates 48-unit community sale

Blueprint facilitated the sale of a 48-unit memory care community in the Lake Havasu City–Kingman metropolitan area.

The transaction was completed on behalf of an institutional seller, according to a press release.

The seller selected a real estate investor partnered with an experienced operator seeking to establish a presence in the market, the release states.

SLIB closes on Oregon community sale

Senior Living Investment Brokerage facilitated the sale of a senior housing community in Sheridan, Oregon.

The 53-unit community was built in 1996, according to a press release.

Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of SLIB handled the transaction, the release states.

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