Berkadia Closes Two Loans for Seniors Housing Communities, Achieving $14M in Total Financing Across Four Property Portfolio
Chevy Chase, Maryland – April 16, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that Managing Director Steve Muth and Director Andrew Lanzaro from Berkadia Seniors Housing & Healthcare successfully closed two loans totaling $5.1 million using HUD’s 232/223(f) program for a Southeast-based owner and operator of seniors housing communities and repeat Berkadia client.
The refinancing paid off the remaining bank debt for a crossed pool of four assets in Mississippi containing 157 units including 149 assisted living and 8 memory care. The two earlier loans closed in late 2024 due to their opportunity zone location, which allowed for expedited processing. The total loan proceeds of $14 million also retired partnership debt from a prior addition funded by the sponsor.
Two of the assets were built in 1998 with additions about 10 years ago, one was built in 2003, and the last in 2013. All four loans achieved 35-year fully amortizing terms.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for active adult, independent living, assisted living, memory care and skilled nursing projects across the country. In addition to deep market knowledge, the group offers a full set of advisory, underwriting, loan origination services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending, and Capital Markets Advisory Services.