Berkadia closed $627.2 million in agency financing for Project Raven. Project Raven is a 35-asset seniors housing portfolio with 4,395 independent living, assisted living and memory care units. The portfolio spans 15 states. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld handled the financing on behalf of an institutional borrower. The transaction was a roughly five-month process and refinanced existing debt. It represents one of the largest seniors housing refinances in recent years.
Berkadia Secures Large Portfolio Refinance
