Richmond, Virgina – August 26, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the bridge financing for a Memory Care Facility, totaling $10 million, located in Sequim, Washington.
In late July, Managing Directors Steven Muth and Austin Sacco and Senior Director Garrett Sacco of Berkadia Seniors Housing & Healthcare successfully utilized Berkadia’s bridge lending program to secure financing for a Pacific Northwest sponsor and repeat Berkadia client. The loan proceeds were used to retire existing debt on the 60-unit memory care community while also returning equity to the sponsor. At underwriting, the community achieved 87% occupancy with an LTV of 57.5%. The 24-month, interest-only bridge loan was structured to meet HUD’s debt seasoning requirements, with Berkadia anticipating permanent HUD financing for the facility in early 2027.
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. In addition to deep market knowledge, the group offers a full set of investment sales, advisory, underwriting, loan origination services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.
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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