The FINANCIAL — GE Capital Healthcare Financial Services (HFS) business has agented a $500 million credit facility for Brookdale Senior Living Inc. HFS is administrative agent and GE Capital Markets is sole lead arranger on the transaction. The funds may be used to finance acquisitions, to fund working capital and capital expenditures, and for other general corporate purposes, according to General electric.
Brookdale is the leading operator of senior living communities throughout the U.S. It currently operates nearly 1,150 independent living, assisted living, dementia care and continuing care retirement centers in 46 states. Through its ancillary services programs, Brookdale also offers a range of outpatient therapy, home health, personalized living and hospice services.
“We’ve been working with HFS for over a decade, and we continue to find them flexible, creative and easy to work with,” said Andy Smith, CEO of Brookdale. “We’re grateful for the financial support and our ongoing relationship,” Smith added.
“This is our largest transaction together thus far,” noted James Seymour, senior managing director of GE Capital, Healthcare Financial Services’ real estate financing team. “We’re excited to help provide a vehicle for Brookdale’s continued growth. The considerable number of lenders involved in this transaction attests to the support that Brookdale has in the marketplace,” he added.
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