Berkadia Seniors Housing & Healthcare Secures $18M in Financing for Skilled Nursing Facilities in South Carolina & Texas
Dallas, Texas – April 24, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the successful arrangement of two loans totaling $18 million through HUD’s 232/223(f) program for a Maryland based owner of skilled nursing facilities and a repeat Berkadia client.
Senior Director Bianca Andujo of Berkadia Seniors Housing & Healthcare successfully secured a $6.4 million HUD loan for a 110-bed skilled nursing facility in South Carolina. The loan proceeds were utilized to pay off previous bank debt and partnership debt associated with the 2023 acquisition. Due to improved operations and increased reimbursement rates, the sponsor was able to recoup 100% of purchase costs with the refinance. Since acquiring, the facility has consistently operated at a stabilized occupancy rate of 95% or higher, which was maintained through underwriting and at the time of closing. The HUD loan represents 65.9% LTV and carries a 30-year amortizing term.
Shortly after closing the first transaction, Andujo secured an additional $11.6 million HUD 232/223(f) loan for the sponsor. Loan proceeds were used to refinance outstanding bank debt for the 133-bed skilled nursing facility in Texas. The Class A property was developed by current ownership and opened in 2015. The loan, representing 79% LTV, carries a 35-year amortizing term.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for even the most complex 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 investment sales, advisory, underwriting, loan origination services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.