Frank Cassidy Officially Nominated as FHA Commissioner
Frank Cassidy, most recently a Walker & Dunlop senior managing director of Federal Housing Administration (FHA) Finance where he originated loans for multifamily, nursing home and seniors housing properties, has been officially nominated by President Trump as Assistant Secretary of Housing and Federal Housing Commissioner at the HUD. He oversees FHA’s approximately $1.75 trillion single family, multifamily and healthcare mortgage insurance programs, HUD’s multifamily assisted housing portfolio, the administration of HUD’s housing counseling program, and the development and oversight of federal standards for the design and construction of manufactured homes. Since April 2025, Cassidy... Read More »
Acquisition Financing Arranged for Regional Owner/Operator
Ziegler announced its role as the capital structure advisor and hedge advisor in the placement of a $52.5 million acquisition loan on behalf of a regional owner/operator. The acquisition financing was used to acquire five enhanced independent living communities in Michigan. The portfolio surrounds the Detroit, Michigan MSA, and has a total of 631 units with 695 beds. Christopher Utz advised and negotiated the transaction for the borrower and placed the loan with Oxford Finance. Ziegler’s Structured Products practice placed an interest rate cap through a competitive bid process, ultimately executing the cap with Goldman Sachs. Read More »
Oregon AL Community Secures HUD Refinance
In May 2025, Berkadia closed a $7.6 million 232/223f HUD loan to refinance Whitewood Gardens, a 39-unit assisted living community built in 2013 in Portland, Oregon. The fully amortizing, 35-year term represents 78% LTV and allowed the sponsor to avoid a loan maturity. Ed Williams and Rob Affleck handled the transaction. Early in the process, they pinpointed HUD’s project eligibility requirements, and, during underwriting, addressed the need for additional bathrooms to meet with compliance. Leveraging relationships with HUD engineering and repairs experts, the team guided the construction process, securing approvals on last-minute requests. The loan covered the initially anticipated... Read More »
Pennsylvania Portfolio Secures Bridge Loan
Greystone provided a $64.96 million bridge loan for a senior care portfolio in Pennsylvania comprising three assets with 506 beds. The financing was originated by Christopher Clare, David Young, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher. The non-recourse interest-only bridge loan carries a 24-month term, two six-month extension options and a floating rate. It allows the borrower to improve operations while working with Greystone to secure HUD-insured permanent financing. The portfolio includes a combined total of 408 skilled nursing, 76 assisted living, 12 memory care and 10 independent living beds. Read More »
KIRCO Refinances Class-A Community
Berkadia announced the refinancing of Monark Grove Madison, a Class-A, 132-unit, independent living and memory care community developed and owned by Michigan-based KIRCO. Steven Muth, Austin Sacco, Garrett Sacco and Alec Rosenfeld of Berkadia Seniors Housing & Healthcare secured a loan through a national bank. The deal closed on July 15 after a competitive process. Alabama-based Atlas Senior Living manages Monark Grove in Madison, Alabama. The property affords convenient access to Madison Hospital, multiple shopping centers, Huntsville International Airport, and Madison Golf Center. It was built in 2022 and features 105 independent living and 27 memory care units with... Read More »Schedule a demo
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