The Lenox, Mass. office of Berkadia Commercial Mortgage LLC (Berkadia) recently closed on supplemental financing on a portfolio of loans for affiliates of Capital Senior Living Corporation.
Vice President Christopher Fenton worked with lenders Fannie Mae and Freddie Mac to secure a total of $25.8 in supplemental financing on 11 properties located in geographically concentrated regions. The properties were part of two separate portfolios that had originally been financed through Berkadia. Capital Senior Living will use the supplemental loans to help fund future acquisitions.
Headquartered in Dallas, Texas, Capital Senior Living is one of the nation’s largest operators of residential communities for senior adults. The company offers a continuum of care, integrating independent living, assisted living and home care services, and currently operates 91 senior living communities with the capacity to house approximately 12,600 residents. Earlier this year, Berkadia assisted Capital Senior Living with securing financing for four properties acquired in Texas.
“This financing represents just some of the great work that we’ve been able to do with Capital Senior Living over the years, and we are grateful for the confidence they show in Berkadia with each transaction,” said Fenton. “It’s a pleasure to work with a company that excels at providing essential services to seniors and takes pride in the stewardship of their assets.”