GE Capital’s Healthcare Financial Services (HFS) business announced
today that it 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.
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.”
“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.”
About GE Capital, Healthcare Financial Services
GE Capital’s Healthcare Financial Services (HFS) business is one of the
most active capital providers in the U.S. healthcare market, deploying
approximately $9 billion in new commitments to customers via 200+
transactions in 2013. That adds up to more than $70 billion in financing
over the past 10 years.
Customers across 45 healthcare sectors — including senior housing,
hospitals, medical offices, outpatient services, pharmaceuticals and
medical devices — rely on HFS to finance acquisitions, refinance
existing debt, support working capital needs and fund growth
initiatives. With in-depth industry knowledge and expertise, the HFS
team of professionals creates financial solutions tailored to meet the
individual needs of its customers. For more information, visit
gecapital.com/healthcare or follow company news via Twitter (http://twitter.com/GELendLease).
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (http://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
Copyright Business Wire 2014