Brookdale Announces Acquisition of 17 Leased Communities and Refinances All Mortgage Debt Maturities Until 2028

735-unit portfolio acquisition expands owned real estate platform and reduces leased portfolio

$249 million fixed-rate financing proactively addresses all remaining mortgage debt maturities until 2028

BRENTWOOD, Tenn., Aug. 5, 2026 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") today announced transactions that further strengthen the Company's real estate ownership position and capital structure.

Portfolio Acquisition

• Brookdale entered into a definitive agreement to acquire the real estate of 17 senior living communities currently leased and operated by the Company for a purchase price of approximately $157 million.
• The 17-community portfolio is comprised of 735 units, the majority of which complement other Brookdale locations.
• The acquisition advances Brookdale's strategy to increase ownership of high-quality communities within its existing operating footprint at prices well below replacement cost.
• The transaction is expected to close during the fourth quarter of 2026 and to be funded with non-recourse mortgage financing and cash on hand.
• Brookdale's share of owned units is expected to be approximately 77% after giving effect to the transaction.
• The Company expects this transaction to reduce 2027 annual cash rent payments by approximately $11 million, with a commensurate increase to Adjusted EBITDA.

Agency Financing

• Brookdale obtained $249 million of fixed-rate financing from Fannie Mae through JLL, with proceeds used to refinance $244 million of mortgage debt scheduled to mature in 2027.
• Following this refinancing, the Company has no additional mortgage debt maturities until 2028.

Nick Stengle, Brookdale's Chief Executive Officer, commented, "The acquisition of these 17 communities, currently leased by Brookdale, represents another positive step in Brookdale's strategy to increase its ownership of real estate within our existing operating footprint and reduce long-term lease obligations. Upon closing this acquisition, Brookdale will only have four long-term lease portfolios remaining, and the remaining leased portfolio in aggregate is producing positive cash flow."

Dawn Kussow, Brookdale's Chief Financial Officer, also commented, "Demonstrating our continued proactive management of Brookdale's balance sheet, we completed another beneficial financing transaction within this broader loan portfolio to address all remaining 2027 mortgage debt maturities at a favorable fixed rate. We are pleased to extend these maturities, and we are grateful to Fannie Mae and JLL for their ongoing partnership."

ACQUISITION SUMMARY

Brookdale recently entered into a definitive agreement to acquire the real estate of 17 senior living communities that it currently leases and operates for a purchase price of approximately $157 million. The portfolio is comprised of 735 assisted living and memory care units in four states. Following the closing, Brookdale will continue to operate all 17 communities. Based on the Company's current portfolio, this acquisition will increase Brookdale's owned portion of consolidated units to 77%.

Owning the real estate of these communities is expected to enable Brookdale to capture the full economic benefit of future operating improvements and to provide greater long-term portfolio flexibility, while also improving Adjusted EBITDA and cash flow. The acquisition is consistent with Brookdale's strategy of acquiring communities within its existing geographic footprint at prices below replacement cost and reducing long term lease obligations.

FINANCING SUMMARY

In July 2026, Brookdale obtained $249 million of fixed-rate mortgage financing under its existing Master Credit Facility with Fannie Mae through JLL Real Estate Capital, LLC. Proceeds from this financing repaid $244 million of outstanding mortgage debt scheduled to mature in 2027. This financing is part of a broader Master Credit Facility secured by non-recourse first lien mortgages on 45 communities, including $179 million of mortgage debt due in 2031 and $340 million of mortgage debt due in 2032.

The recently completed tranche bears interest at a fixed rate of 6.16% and matures in 2031. Following this financing, Brookdale has no additional mortgage debt maturities until 2028.

ABOUT BROOKDALE SENIOR LIVING

Brookdale Senior Living Inc. is the nation's premier operator of senior living communities. With 541 communities across 41 states and the ability to serve approximately 46,000 residents as of June 30, 2026, 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 Company's ability to complete pending or expected transactions on agreed upon terms or at all, including in respect of the satisfaction of closing conditions, such as the ability to obtain financing or regulatory approvals, and uncertainties as to the timing of the closing, disruptions in the financial markets or decreases in the appraised values or performance of the Company's communities that affect the Company's ability to obtain financing or extend or refinance debt as it matures and the Company's financing costs; the Company's ability to obtain additional capital on terms acceptable to it; and the Company's ability to realize the anticipated benefits of an acquisition; as well as other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, 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.

Definition of Adjusted EBITDA

Adjusted EBITDA is a performance measure, which is not calculated in accordance with U.S. generally accepted accounting principles ("GAAP") and that the Company defines as net income (loss) excluding: benefit/provision for income taxes, non-operating income/expense items, and depreciation and amortization; and further adjusted to exclude income/expense associated with non-cash, non-operational, transactional, legal, cost reduction, or organizational restructuring items that management does not consider as part of the Company's underlying core operating performance and that management believes impact the comparability of performance between periods.

SOURCE Brookdale Senior Living Inc.