Berkadia Commercial Mortgage LLCrecently originated $39.7 million in financing through Fannie Mae for a senior retirement living facility located in Richmond, VA. Vice President Heidi Brunet worked with borrower Smith/Packett to secure the 10-year, fixed-rate financing. Other features include a 70 percent loan-to-value ratio (LTV) and 30-year amortization. The loan was used to refinance an existing mortgage on The Crossings at Bon Air, which was developed in 2009 by Smith/Packett as part of a joint-venture with CJSP Healthcare Holdings. The property is located on a 17.6-acre campus and consists of 108 independent living units, 59 assisted living units and 28 memory care units, all of which are more than 90% occupied.
