Berkadia arranged $14.6 million in bridge financing for an assisted living community in New Port Richey, Florida. Managing Directors Ed Williams and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured financing for a Florida-based sponsor and first-time client through Berkadia’s bridge lending program.
The 12-month, interest-only loan was used to retire existing debt and return capital to the sponsor for future development. The community was built in 2020 and reached stabilized occupancy within 12 months of opening. Occupancy has remained at or above 95% since that point. Berkadia is expected to close the subsequent HUD refinance by the end of 2025.
