Berkadia Secures $26.8M in HUD Financing for Assisted Living Facility in Washington State
Richmond, Virginia – October 6, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the successful arrangement of 232/223f HUD financing for an assisted living facility in Washington state, totaling $26.8 million.
In September, Managing Directors Austin Sacco and Steve Muth, along with Senior Director Garrett Sacco of Berkadia Seniors Housing & Healthcare, secured HUD financing for a repeat Berkadia client, a Pacific Northwest-based sponsor. This HUD loan retires the existing Berkadia bridge loan. The sponsor, who has operated the community since 2017, was able to transition from bridge to HUD financing, paying off existing bank debt and capturing equity built from their operations. The facility is a 200+ bed assisted living community.
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.
Berkadia Secures $27M for Assisted Living Facility in Washington | Connect CRE
Berkadia Arranges $27 Million Financing for Assisted Living Facility in Washington | CRE Marketbeat
Washington State AL Community Lands HUD Financing | The Senior Care Investor