Brookdale Announces Beneficial Financing Transactions; Successfully Refinances 2026 and a Portion of 2027 Mortgage Debt

BRENTWOOD, Tenn., Jan. 8, 2026 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE:BKD) ("Brookdale" or "the Company") announced today that the Company recently completed a series of financing transactions with multiple lenders totaling approximately $600 million. Through these transactions, the Company refinanced all of its approximately $350 million remaining 2026 mortgage debt maturities and approximately $200 million of its 2027 mortgage debt maturities, while further strengthening its balance sheet. The refinancing transactions result in a higher proportion of fixed-rate debt, mitigating future interest rate risk. The blended interest rate of the new loans, inclusive of variable-rate debt, remains comparable to the blended rate of the prior loans. Annual net interest expense is not expected to be significantly impacted from these refinancings transactions.

"The continued successful execution of our strategy has resulted in the operational strength that underpins these favorable refinancings and gives us confidence in our ability to continue to successfully address future mortgage debt maturities in the ordinary course," said Dawn Kussow, Brookdale's Executive Vice President and Chief Financial Officer. "Further, these transactions demonstrate Brookdale's strong relationships with multiple lenders, including both agency and existing commercial lenders. We extend our gratitude to each of our financial partners for their continued support and confidence in Brookdale."

Fannie Mae Mortgage Loan

In December 2025, Brookdale obtained $245.8 million of mortgage financing from Capital One, National Association in a Fannie Mae Credit Facility ("Credit Facility")  structure. The non-recourse mortgage financing is secured by first mortgages on 17 communities. Approximately 90% of the principal, or $221.2 million, of the loan bears interest at a fixed rate of 5.69%, is interest-only for the first five years, and matures in January 2036. The remaining $24.6 million of the loan bears interest at a variable rate equal to one-month SOFR plus 2.11%, is interest-only for the first three years, and matures in January 2031. In addition to provisions allowing the Company to convert all or a portion of the variable-rate note to a fixed-rate note and subsequently extend the maturity date, the Credit Facility structure provides future optionality for asset substitutions, borrow-ups, and partial releases.

Freddie Mac Mortgage Loans

In December 2025, Brookdale obtained an aggregate of $146.1 million of debt secured by first mortgages on nine communities from PGIM's real estate business through its Freddie Mac loan origination program. The non-recourse loans bear interest at a fixed rate of 5.48%, are interest-only for the first two years, and mature in January 2033.

In connection with the closing of the two agency financing transactions described above, the Company used the loan proceeds to repay $398.9 million of existing mortgage debt which was scheduled to mature in 2026 and 2027.

Capital One, National Association Mortgage Loan

In December 2025, Brookdale also completed a non-recourse financing for $205.0 million secured by first mortgages on 16 communities. The loan bears interest at a variable rate equal to the one-month SOFR plus 2.30% and is interest-only for the first three years. The loan is scheduled to mature in December 2028 and has two one-year extension options available to the Company subject to the satisfaction of certain conditions. The financing also contains an option for the Company to obtain up to $20.0 million of additional loan proceeds in the future upon meeting certain requirements in the loan agreement. In connection with this transaction, the Company refinanced $146.8 million of mortgage debt scheduled to mature in 2026.

ABOUT BROOKDALE SENIOR LIVING

Brookdale Senior Living Inc. is the nation's premier operator of senior living communities. With 584 communities across 41 states and the ability to serve approximately 51,000 residents as of December 31, 2025, Brookdale is committed to its mission of enriching the lives of seniors through compassionate care, clinical expertise, and exceptional service. The Company, through its affiliates, operates independent living, assisted living, memory care, and continuing care retirement communities, offering tailored solutions that help empower seniors to live with dignity, connection, and purpose. Leveraging deep expertise in healthcare, hospitality, and real estate, Brookdale creates opportunities for wellness, personal growth, and meaningful relationships in settings that feel like home. Guided by its four cornerstones of passion, courage, partnership, and trust, Brookdale is committed to delivering exceptional value and redefining senior living for a brighter, healthier future. Brookdale's stock trades on the New York Stock Exchange under the ticker symbol BKD. For more information, visit brookdale.com or connect with Brookdale on Facebook or YouTube.

SAFE HARBOR

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to various risks and uncertainties and include all statements that are not historical statements of fact and those regarding the Company's intent, belief or expectations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "could," "would," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "believe," "project," "predict," "continue," "plan," "target," or other similar words or expressions, and include statements regarding the Company's expected financial and operational results. These forward-looking statements are based on certain assumptions and expectations, and the Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Although the Company believes that expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its assumptions or expectations will be attained and actual results and performance could differ materially from those projected. Factors which could have a material adverse effect on the Company's operations and future prospects or which could cause events or circumstances to differ from the forward-looking statements include, but are not limited to, the risks detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including those set forth in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements in such SEC filings. Readers are cautioned not to place undue reliance on any of these forward-looking statements, which reflect management's views as of the date of this press release. The Company cannot guarantee future results, levels of activity, performance or achievements, and, except as required by law, it expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company's expectations with regard thereto or change in events, conditions, or circumstances on which any statement is based.

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SOURCE Brookdale Senior Living Inc.