News Release: Berkadia’s Seniors Housing and Healthcare Group Finances Over $1 Billion in One Day

SEPTEMBER 20, 2017

Providence Meadows in Charlotte, N.C., is one of the communities operated by Hawthorn Retirement Group. (Photo courtesy of Hawthorn Retirement Group)

NEW YORK – September 20, 2017 – Today, Berkadia’s Seniors Housing and Healthcare Group announced the closing of over $1.03 billion in financings in one day. The September 7 financings consisted of two separate transactions. The first financing was over $995 million for Columbia Pacific Advisors’ (CPA) acquisition of Hawthorn Retirement’s properties, and the second was a $35 million bridge loan financing for a repeat Berkadia client. As of September 12, Berkadia’s Seniors Housing and Healthcare Group has closed nearly $1.8 billion year-to-date in new loan originations.

Managing Directors Lisa Lautner and Heidi Brunet completed the transaction for CPA, arranging a $951 million ten-year, variable rate Fannie Mae Master Credit Facility and a $44 million bridge loan through Berkadia’s Proprietary Lending Program.

Brunet also closed the $35 million bridge-to-permanent loan for a 180-unit Virginia community, which includes independent living, assisted living and memory care.

“The CPA financing was a high-profile transaction that involved a number of stabilized properties, as well as many in various stages of lease-up and development,” said Lautner. “As a result, the combined power of Fannie Mae’s Credit Facility and Berkadia’s Proprietary Lending Program allowed us to offer the borrower the perfect financing solution.”

Prior to the acquisition, the American Seniors Housing Association June 2017 rankings recognized Hawthorn as the 25th largest senior housing owner and 18th largest seniors housing operator in the United States.

Since 2012, Berkadia’s Seniors Housing and Healthcare Group has closed over $7 billion in production and recently expanded product lines to include investment sales by naming industry veteran Tim Cobb managing director and Seniors Housing and Healthcare Group investment sales lead. With the team’s growth, Berkadia continues to fulfill the vision of providing clients a full set of advisory services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.

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