Berkadia’s Seniors Housing & Healthcare platform completed over $1.54 billion in financing for seniors housing communities as of the end of the third quarter. Under the leadership of SVP, Head of FHA & Seniors Housing Finance Steve Ervin, the platform facilitated $350 million in PLG Bridge with participations, $258 million in HUD 232/223(f) financings, and $934 million in GSE and third-party placements. In total, these efforts financed 88 properties, encompassing 10,653 beds/units.
Notable third-quarter transactions include Managing Director Jay Healy and Director Andrew Lanzaro closing 13 loans totaling $178 million, comprising nine HUD 232/223(f) loans for $102 million and five bridge-to-HUD loans for $76 million. Additionally, Managing Directors Steven Muth and Austin Sacco, along with Senior Director Garrett Sacco and AVP of Originations Alec Rosenfeld, secured $28 million in permanent refinancing through Freddie Mac for All Seasons Rochester Hills, a 144-unit independent living community in Rochester Hills, Michigan. This refinancing was arranged on behalf of the borrower, Beztak.
Berkadia was recognized as the #1 GSE and HUD seniors housing lender by total volume in 2024. The firm delivered over $1.63 billion in seniors housing loans with Freddie Mac, Fannie Mae and HUD.
