Berkadia Brings In Old Borrowers And New
In addition to closing transactions for two repeat borrowers, Berkadia also worked with a new client to help them obtain financing. Rafael Nobo secured a $15 million Freddie Mac loan on behalf of this new client to refinance its seniors housing community in Mississippi. The loan was structured with a 10-year term and five years of interest only, hopefully kicking off a long-term relationship. Christopher Fenton then worked with a repeat borrower to refinance its 81-unit private pay assisted living community in Ohio. Mr. Fenton arranged a floating-rate $10.2 million Freddie Mac loan, with a seven-year term and two years of interest only. Finally, moving from Freddie Mac, Jay Healy arranged... Read More »
Seniors Housing Construction and Take-Out Financing: Slowing Down or Just Getting Started?
On January 18, 2018, we hosted a webinar titled “Seniors Housing Construction and Take-Out Financing: Slowing Down or Just Getting Started?” Our editor, Steve Monroe, moderated a 90-minute discussion among panelists Chris Fenton of Berkadia, Rich Malloy of BBVA Compass and Cary Tremper of Greystone, covering a range of topics from the current pace of seniors housing construction today to best practices in the current construction lending environment, and from take-out financing to their thoughts on the 2018 market, and beyond. But we also wanted to hear from our audience and posed three questions: Have you seen new development slowing down? Yes 35% No 65% Have you... Read More »
Berkadia Closes In On $2 Billion Year
Heidi Brunet and Chris Fenton of Berkadia wrapped up their holiday season with a couple of financings for assisted living providers, bringing Berkadia Commercial Mortgage’s 2017 total to nearly $2 billion in loan production. First up, Ms. Brunet arranged a $25.6 million Fannie Mae loan, with a 10-year term and fixed interest rate, for a new borrower. The loan financed a portfolio of four assisted living/memory care communities all built in the early 2000s and totaling 288 units. Second, Chris Fenton worked on behalf of a joint venture (which included a New England-based operator) to finance their acquisition of a 54-unit assisted living/memory care community in New Hampshire. The $25.2... Read More »
All Business For Berkadia
The closings keep on coming from Berkadia, which recently facilitated two Freddie Mac financings and a bridge-to-HUD loan for several clients. Heidi Brunet and Chris Honn teamed up to arrange a 10-year, $30 million Freddie Mac loan to refinance a 120-unit independent living community in the Columbus, Ohio area. Recently built in 2015, the community was nearly stabilized, prompting the new client to pay off its existing construction debt with this transaction. Ms. Brunet also assisted an older senior living community to refinance with a 10-year, $44 million Freddie Mac loan. Located in South Florida, the property consists of four buildings with 268 independent living and 55 assisted living... Read More »Schedule a demo
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