Berkadia Secures $15M 232/223(f) HUD loan for Washington Skilled Nursing Facility
Charleston, South Carolina – April 21, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that Managing Director Jay Healy and Director Andrew Lanzaro of Berkadia Seniors Housing & Healthcare arranged a $15 million loan through HUD’s 232/223(f) program for a California-based sponsor and repeat Berkadia client.
The 35-year, non-recourse loan refinanced bank debt that was utilized to pay off the previous HUD loan and fund a new addition for the 99-bed, 4-star skilled nursing facility located in Bothell, Washington. The addition added 20 private rooms to the building originally constructed in 1964 and 1984, plus a new therapy gym and dining area, thereby enhancing the facility’s appeal to Medicare residents. At closing, the facility had a quality mix of 56%.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for 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 advisory, underwriting, loan origination services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending, and Capital Markets Advisory Services.
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