KinderCare Secures $650,000,000 Credit Tenant Loan on 713 Child Learning Centers

KinderCare (aka Knowledge Learning Corporation) has entered into a ten-year fixed rate $650,000,000 mortgage financing at 5.236% on 713 children's learning centers totaling 5,119,320 net rentable square feet and located in 37 states. The loans are backed by a 15-year bondable triple net Master Lease for the individual properties. The scheduled base rent shall be subject to CPI increases every five years, not to exceed a 7% maximum increase.

In January 2005, Knowledge Learning Corporation, based in Golden, Colorado, purchased KinderCare Learning Centers for approximately $550 million, plus the assumption of approximately $483 million of indebtedness. The combined company operates 1,900 early childhood education and child care centers, 656 before-and-after school programs and 123 employer-sponsored child care centers located in 39 states and Washington, D.C., serving more than 200,000 children and employing approximately 41,000 people. Sphere: Related Content