In addition to closing transactions for two repeat borrowers, Berkadia also worked with a new client to help them obtain financing. Rafael Nobo secured a $15 million Freddie Mac loan on behalf of this new client to refinance its seniors housing community in Mississippi. The loan was structured with a 10-year term and five years of interest only, hopefully kicking off a long-term relationship.
Christopher Fenton then worked with a repeat borrower to refinance its 81-unit private pay assisted living community in Ohio. Mr. Fenton arranged a floating-rate $10.2 million Freddie Mac loan, with a seven-year term and two years of interest only.
Finally, moving from Freddie Mac, Jay Healy arranged a $5 million bridge loan for the acquisition of a 24-unit memory care community in Summer, Washington. The repeat borrower plans to take the loan immediately to HUD after a 12-month term. It helps that the property is stabilized at 95% occupancy with 100% private pay and was recently re-designed in 2014.