Charleston, South Carolina – March 25, 2025 – Berkadia, a leader in the commercial real estate industry, announced today that Managing Director Jay Healy and Director Andrew Lanzaro of Berkadia Seniors Housing & Healthcare successfully closed $26 million in bridge-to-HUD loans across three separate transactions for an El Segundo, California-based sponsor and repeat client of Berkadia. Berkadia anticipates closing all three HUD refinancings in the second half of 2025.
The first transaction involved a $6 million bridge-to-HUD loan to facilitate the acquisition of a 48-bed memory care community in Jackson County, Oregon for a joint venture between the sponsor and a Medford, Oregon-based operator who has managed the community since 2022. Constructed in 2016, the community had a 90% occupancy rate at closing with deposits increasing occupancy to 96% shortly thereafter. The 18-month, interest-only bridge loan represented 67% of the purchase price plus.
The second transaction was a $11.06 million bridge-to-HUD loan to refinance senior and related party debt on an 87-unit assisted living and memory care community located in Lancaster County, Pennsylvania. The community was developed in 2001, and the sponsor has owned it since 2015. The community maintained a 95% occupancy rate at closing. The bridge loan represented 73% of the property’s value and carries a term of 18-months.
Finally, Healy and Lanzaro closed a $8.96 million bridge-to-HUD loan to facilitate the acquisition of a 60-unit assisted living and memory care community in Macomb County, Michigan. Developed in 2019, the community had a 90% occupancy rate at closing. The 18-month bridge loan was sized to 67% of total costs.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for even the most complex active adult, independent living, assisted living, memory care and skilled nursing projects across the country. With deep market knowledge, Berkadia Seniors Housing & Healthcare offers a full set of capital markets advisory, underwriting, loan origination services and products including FHA/HUD, Fannie Mae, Freddie Mac, Life Company, and Proprietary Bridge Lending.
About Berkadia®:
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
To learn more about Berkadia, please visit www.berkadia.com.
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