Berkadia Commercial Mortgage LLC (Berkadia) recently arranged $26.1 million in financing for a portfolio of four senior housing properties across the state of Texas. Senior Vice President Lisa Lautner worked with lender Fannie Mae and borrower Capital Senior Living Corporation to secure 10-year, fixed-rate financing for the acquisition of the properties.
The portfolio is made up of four Texas properties that offer independent, assisted and Alzheimer’s services. Located in Arlington, College Station, Conroe and Stephenville, all four properties were newly renovated between 2010 and 2011, and have an average occupancy rate of 92 percent. On March 30, 2012, Berkadia completed the loan just 60 days after origination, meeting the borrower’s first quarter timeframe.
“We are pleased to once again assist Capital Senior Living with its financing needs as it continues to acquire quality assets and expand its regional presence,” said Lautner. “They are a premier operator in our industry and we are proud to be one of their financial partners.”
Headquartered in Dallas, Texas, Capital Senior Living provides quality housing and services to senior residents throughout the country, offering both assisted and independent living units.