Berkadia Secures Nearly $159M in Recent Senior Housing Deals

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WASHINGTON DC – Berkadia has announced the closing of seven senior housing deals within the past three months, totaling $158.9 million in financing.

The transactions, secured by the Berkadia’s Senior Housing & Healthcare group, resulted in an active third quarter for the firm. The executed senior housing financings ranged a wide variety of deals.

The first of the noted transactions, consisted of the refinancing of eight independent living, assisted living and memory care communities in South Carolina, Mississippi and Louisiana totaling 593 units, which Berkadia secured through a $107.6 million Fannie Mae Master Credit Facility. The second deal comprised a bridge to HUD financing for a 95-unit assisted living and memory care facility in California. The third transaction consisted of a Freddie Mac refinance for a 150-unit independent living facility in California, for which Berkadia secured a $21 million 10-year, fixed-rate loan.

The fourth transaction secured a 10-year, fixed-rate loan of $7 million in Fannie Mae financing for an owner/operator on an assisted-living and memory care community in Georgia. The fifth deal was a $3.16 million HUD mortgage for a 52-unit assisted living property in Indiana. The sixth transaction comprised a $2.12 million HUD mortgage for a 60-bed skilled nursing and assisted living community in Montana. Lastly, the seventh transaction, consisted of a $4.1 million loan through the firm’s Proprietary Bridge Lending platform.

In addition to this news, Berkadia recently announced the completed sale of two independent living communities in Peoria, IL and Springfield, MO, on behalf of Capital Senior Living Corporation.

The disposition of the two properties, comprising 316 units, was arranged by Berkadia’s Senior Housing & Healthcare group’s investment sales lead, Tim Cobb.

Berkadia’s Senior Housing & Healthcare group offers solutions for independent living, assisted living, memory care and skilled nursing projects, nationwide. The group offers advisory, underwriting and loan origination services.

Berkadia offers a variety of services to multifamily and commercial property clients, as a joint-venture of Berkshire Hathaway and Jefferies Financial Group.

Capital Senior Living Corporation, based in Dallas, TX, is an operator of independent living, assisted living and memory care communities. The firm currently has 126 communities, occupied by nearly 11,800 residents across 23 states.

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