PRZOOM - /newswire/ -
Bethesda, MD, United States, 2014/12/22 - GE Capital Healthcare Financial Services (HFS) business announced today that it has agented a $500 million credit facility for Brookdale Senior Living, Inc. - GECapital.com. NYSE: GE
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.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services.
GE (ge.com) 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.
Contact: Maria C. Moreno - GE Capital, Healthcare Financial Services
P: 301-664-9859 - E: mariac.moreno[.]ge.com.