• Public REIT Divests Two Georgia AL/MC Communities

    by | May 24, 2024 11:26 am | Acquisitions

    Berkadia was engaged in the sale of two assisted living and memory care communities in the Atlanta, Georgia MSA. The communities are located in Atlanta and Marietta and total 146 units. The seller was a publicly traded REIT. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders handled the transaction. No additional details were... Read More »

  • Missouri-Based Provider Acquires SNF Portfolio (with HUD debt)

    by | May 24, 2024 9:09 am | Acquisitions

    Blueprint was engaged by Birchwood Healthcare Partners, a Chicago-based private investor and owner/operator, in its sale of its eastern Oklahoma skilled nursing portfolio. The regionally clustered portfolio comprises seven facilities that total 561 beds. It benefited from the recent Medicaid rate increases and steady census rebounds. There was... Read More »

  • CFG Secures Bridge-to-HUD Loan for Massachusetts SNF

    by | May 24, 2024 9:07 am | Financings

    Capital Funding Group announced the closing of a bridge-to-HUD loan totaling $9.75 million on behalf of a nationally recognized borrower. The loan supports the refinancing of a 123-bed skilled nursing facility in Massachusetts. Tim Eberhardt, Craig Casagrande and Ava Julio handled the transaction. This financing follows CFG’s announcement of the... Read More »

  • Joint Venture Acquires AL Community in Colorado

    by | May 24, 2024 9:06 am | Acquisitions

    Ziegler was engaged by Bethesda Senior Living in its sale of an assisted living community in Grand Junction, Colorado. Bethesda is divesting this non-core asset to focus on the growth of its mission. Cornerstone Management purchased the community in conjunction with a private real estate fund. Eric Johnson handled the transaction. No other... Read More »

  • 60 Seconds with Swett: M&A Activity Heats Up in May

    by | May 21, 2024 3:37 pm | 60 Seconds, Acquisitions

    We have said this before, but the seniors housing and care M&A market is on pace to record its best-ever year in terms of transaction activity, and by some margin. Already by this point in May, we are closing in on 250 transactions for the year, so far, which puts us on track for more than 600 publicly announced deals when we close out 2024.... Read More »
Berkadia and Live Oak Bank Close Four Bridge Loans

Berkadia and Live Oak Bank Close Four Bridge Loans

by | Apr 19, 2023 9:19 am | Financings

Berkadia Seniors Housing & Healthcare partnered with Live Oak Bank to close four bridge-to-HUD loans totaling $86 million in the first quarter of 2023. The partnership, which started in October 2022, has closed $143 million of bridge-to-HUD and GSE transactions to date, the majority of which have been structured as A/B notes with Berkadia funding the B-note. The interest-only loans typically carry terms of 24 months with rates floating over one-month term SOFR. They facilitated purchases and refinances of four assisted living/memory care communities, two skilled nursing facilities, and one independent living community, all scattered throughout the country. Managing Director Jay Healy... Read More »
Berkadia Announces Three Hires

Berkadia Announces Three Hires

by | Feb 13, 2023 9:09 am | Developments

There was some big news out of Berkadia, which announced the addition of Managing Directors Austin Sacco, Cody Tremper and Mike Garbers to its Seniors Housing & Healthcare team. Tremper and Garbers will report to SVP and Co-Head of Investment Sales and Production Mike Miner, and Sacco will report to SVP and Head of FHA and Seniors Housing Finance Steve Ervin. The trio bring a combined 48 years in the seniors housing industry with experience across a variety of asset classes. Coming from JLL, Garbers has over 20 years of experience in the seniors housing industry and has been involved in developing, acquiring and selling over $8 billion in seniors housing properties throughout the... Read More »

Live Oak Bank/Berkadia Close Utah Loan

by | Jan 11, 2023 9:11 am | Financings

Live Oak Bank closed a $16.3 million A/B unitranche loan for an owner/operator of skilled nursing facilities in Utah. Berkadia Commercial Mortgage’s Seniors Housing & Healthcare Group assisted in the process, too. The financing provided bridge-to-HUD debt for a 38-bed transitional care/skilled nursing facility that opened in 2019 and provides short-term rehabilitation services. The loan announcement comes after Live Oak Bank closed a $13 million loan to refinance a 94-unit assisted living/memory care community in Lawrenceville, Georgia. That property also opened in 2019 and was leasing up when the pandemic began. So, the loan allows for additional time to fill the community before a... Read More »
Berkadia Arranges Active Adult Sale and Financing

Berkadia Arranges Active Adult Sale and Financing

by | Nov 18, 2022 8:55 am | Acquisitions, Financings

Berkadia Institutional Solutions announced the sale and financing of a 55+ rental community in Dallas, Georgia. Earlier this month, Levin Pro LTC covered the sale of the community, which was Hardy Springs, a 149-unit single-story, built-for-rent community in the Atlanta suburb. Managing Director Russ Hardy of Berkadia Atlanta and Directors Brooks Minford and Simona Wilson of Berkadia Seniors Housing and Healthcare completed the $47.75 million, or $320,000 per unit, sale on behalf of the seller, Georgia-based Highlands Residential. John Bray of Berkadia arranged acquisition financing through Fannie Mae to support the transaction. The buyer is South Carolina-based and emerging active adult... Read More »
Berkadia Closes Seven Financings

Berkadia Closes Seven Financings

by | Nov 10, 2022 5:26 pm | Uncategorized

Berkadia announced $177 million in financings across seven deals, with Bianca Andujo, Ed Williams, Jay Healy, Rafael Nobo and Chris Cain working on the transactions. There were four HUD loans, the largest being a $62 million arranged by Mr. Williams for a senior living community in Portland, Oregon. At 70% loan-to-value, the financing retired a Berkadia-arranged 232/223(a)(7) loan from 2021 and a surplus cash note provided by Berkadia’s Proprietary Lending Group.  Mr. Williams also secured a $13.65 million loan for a 100-unit assisted living/memory care community in Arizona that qualified for reduced seasoning and refinanced a cash-out loan originated in late 2021. The cash-out loan... Read More »