Berkadia announced it had closed $221 million in financing for Brookdale Senior Living Inc. on July 11.

The Fannie Mae Credit Facility is for 10 years and will be used to refinance two existing Brookdale loan portfolios. It has a a 75% loan-to-value ratio and a 30-year amortization schedule.

“The Fannie Mae Credit Facility product provided Brookdale flexibility to meet their financing needs. The Brookdale team, the Fannie Mae team and the Berkadia underwriting team worked together to make this transaction a seamless process,” said Berkadia’s Managing Director Heidi Brunet. She originated the transaction with Christopher Fenton.

Brookdale Senior Living is the leading seniors housing operator in the country and operates 1,036 communities with the ability to serve approximately 102,000 residents as of June 30, 2017.