St. Paul, Minn.-based Oak Grove Capital recently closed a $259 million Fannie Mae DUS® credit facility for Brookdale Senior Living Inc. The 10-year, variable-rate facility was used to refinance existing mortgage debt.
Brookdale Senior Living used the new debt to refinance existing loans for 23 different properties totaling 1,781 units. The collateral pool consists of assisted-living, independent-living and memory-care units located in 10 states, including Florida, New York, Kansas, Pennsylvania and Texas.
