Berkadia announces deals
Berkadia Commercial Mortgage LLC recently provided $14.45 million in financing for the acquisition of Ocean Villa Assisted Living and Bella Mar, two facilities in California.
Ocean Villa Assisted Living has full-time daily care for residents, as well as therapy services. Bella Mar is a memory care facility. Combined, both properties are currently 90% occupied.
Berkadia also recently provided three acquisition loans for $28 million for Capital Senior Living Corporation. This included $11.9 million through Fannie Mae for Hyland Park of Fitchburg in Wisconsin, which has 82 independent and assisted living units. Another deal was for $7.6 million through Fannie Mae for Woodlands of Middletown, located in Middletown, OH. The community had 61 assisted living and memory care units. Finally, the company was able to secure $8.5 million through Berkadia's Proprietary Bridge Lending Program for Peachtree Plantation, a 64-unit assisted living and memory care facility located in Oakwood, GA.
Capital Senior Living Corporation is one of the nation's largest operators of residential communities for seniors. Lisa Lautner, senior vice president in Berkadia's Seniors Housing and Healthcare group, originated the loans.