WASHINGTON D.C. – April 28, 2020 – Berkadia’s HUD specialists have completed more than $1.25 billion in financing across 70 closings in the first three months of the year. On the heels of a record 2020, with more than $3 billion in closed HUD financing, the team expects to remain active in 2021 as the multifamily market continues to navigate the impacts of the pandemic and the seniors housing and healthcare sector rebounds.
“Coming off our strongest year in 2020, we were anticipating a very active first quarter but continue to be impressed and invigorated by HUD’s activity,” said Steve Ervin, Senior Vice President and Head of FHA Finance at Berkadia. “It’s a testament not only to HUD’s competitive rates and diverse programs, but also to its commitment to remaining a source of stability in the market.”
In the first quarter alone, Berkadia has secured HUD financing for multifamily and healthcare properties in 28 states across the country with a diverse roster of clients.
“With the new MAP Guide becoming effective in March, our role as an advisor to our clients is more important than ever to help them understand HUD’s requirements and their attending opportunities and challenges,” continued Ervin. “From changes that are more advantageous for affordable transactions to improving the overall HUD process, HUD’s new guidelines have truly enhanced its offering and we’re proud to collaborate with HUD and our clients to help find the right solutions for success.”
Berkadia HUD has completed more than 70 transactions since January 1, 2021. Other recent HUD financings secured by Berkadia include: Maple Village Apartments, The Marq Apartments, The Reserve Apartments and Creekside Apartment Homes I & II.