Berkadia arranges for $146 million in seniors housing deal with Brookdale
Berkadia Commercial Mortgage LLC recently arranged $146 million for a portfolio of 19 seniors housing properties located across 10 different states.
The financing is the first-ever Freddie Mac Seniors Housing Early Index Lock transaction. The borrower, Brookdale Senior Living, has a seven-year, fixed-rate loan that will be used to refinance 19 Brookdale properties.
The financing features a 4.76% interest rate and 60% loan-to-value ratio, as well as a 30-year amortization schedule. The properties, which have a total of 1,170 units, include 770 in assisted living, are located in Arizona, California, Colorado, Florida, Indiana, Kansas, Michigan, Pennsylvania, Texas and Washington.