The finance team at Brookdale Senior Living this week put the bow on the latest in a series of refinancing transactions. Notable about this $221 million deal: It clears the decks of debt maturities for the Brentwood-based company both this year and next.

The 10-year, $221 million mortgage from Newmark Knight Frank was executed via Freddie Mac's Capital Markets Execution Program and is secured by 27 of Brookdale’s nearly 740 senior living communities.

“We've taken multiple proactive steps to enhance our liquidity in recent quarters,” said CFO Steven Swain. “In the regular course of business, we are pleased to have now refinanced the vast majority of our 2020 and 2021 maturities at an attractive initial weighted average loan rate of 3.04 percent.”

Swain, CEO Cindy Baier and their team have this year taken several steps to conserve cash in the face of COVID-19 and the recession it has caused. In late July, they renegotiated a lease covering 120 communities to save the company about $500 million in the next five years.

Brookdale finished June with total long-term debt of nearly $3.5 billion. The company does business in 44 states and in the first half of this year booked an operating loss of $45.1 million on revenues of $1.88 billion. Those numbers were down from an operating profit of $18.9 million and revenues of $2.06 billion, respectively, in the first six months of 2019. Shares of the company (Ticker: BKD) closed Thursday at $2.75; they began 2020 around $7.

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