Berkadia finances 32 properties for $648M
Berkadia's Seniors Housing and Healthcare group has worked with NorthStar Realty Finance Corp. to finance 32 senior living housing properties for $648 million.
The portfolio, which sold for $875 million, has properties across 12 states, including California, Missouri, Texas and Washington. Overall, there are 4,012 Berkadia independent living units.
At 10-year fixed loan rates, the interest rate is at 4.17%, with 73.5% loan-to-value ratio and a 30-year amortization schedule.