Berkadia recorded another successful year, with more than $2 billion in mortgage banking closings for the second consecutive year. In 2025, Berkadia’s financings were spread across 123 properties including active adult, independent living, assisted living, memory care and skilled nursing communities. Multiple lending sources were utilized, such as the GSEs, HUD, Berkadia’s proprietary capital, banks, life companies and debt funds.
Additionally, Berkadia was the #1 Freddie Mac Seniors Housing Lender by total volume in 2025, delivering $850 million in seniors housing loans with Freddie Mac. Separately, it originated $392.5 million in HUD LEAN volume, a 90% increase from the prior year.
In October, through a financing arrangement with a large financial institution, Berkadia more than doubled the capital available for bridge-to-permanent financing for seniors housing communities (including memory care) and nursing facilities, further reinforcing its growth trajectory.
The company is off to a strong start to 2026, having already closed several financings and sales. Most recently on the investment sales side, Berkadia announced that it represented an undisclosed seller in its divestment of seniors housing two communities.
Blue Ridge Assisted Living Memory Care is in Blue Ridge, Georgia, and The Trace is in Covington, Louisiana. The buildings total 186 units and each offer assisted living and memory care services. Built in 2016 and 2009 respectively, both communities were over 90% occupied at the time of closing.
The properties were purchased by a long-time owner of senior living communities. Phoenix Senior Living will manage the communities moving forward. Managing Directors Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers handled the deal.
According to LevinPro LTC, the Georgia community last sold in 2017 to a joint venture between a Maryland-based fund and a Florida-based operator. It has 50 AL and 17 MC units and was opened in October 2016, reaching 100% occupancy in a month with a waiting list. Senior Living Investment Brokerage handled that 2017 sale, and additional information on it, including the purchase price and cap rate, can be seen here on LevinPro LTC.
