Berkadia Secures $25.8M in Financing for Two Memory Care Communities in Upstate New York
Richmond, Virginia and Scottsdale, Arizona – May 6, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the financing of two memory care facilities in New York for $25.8 million.
In April, Managing Directors Steve Muth and Ed Williams arranged acquisition financing for two standalone memory care communities in upstate New York. The bridge financing, totaling $25.8 million, was provided through Berkadia’s Proprietary Lending Group on behalf of a prominent West Coast-based repeat sponsor. The loans feature a 24-month interest-only term with one 12-month extension option and are secured by the two facilities, which together total 116 beds and were 94% occupied at closing. The existing operator will remain in place following the acquisition. Berkadia expects to submit the properties to HUD in the coming weeks, with a targeted HUD takeout in Q4 2026.
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.