Workmen’s Circle Multicare Center, a skilled nursing facility in Bronx, NY, has received $104.27 million in financing, Berkadia announced.
Managing Director Richard Price and Senior Director Gemma Geldmacher secured the 232/223(f) loan through HUD on behalf of New York-based Cassena Care.
Workmen’s Circle, which is a five-star facility, offers clinical services that also include mental health, dietary and palliative care.
The deal closed on June 19. The loan has a 20-year fully amortizing term.
Berkadia also said it provided a bridge loan secured by the project’s surplus cash.
