Berkadia provides financing for two senior housing deals
Berkadia Commercial Mortgage has arranged $14.5 million in financing for the acquisition of Vintage Senior Living Campus in St. Joseph, MO, the company said. The financing was through Fannie Mae. The borrower was Capital Senior Living Corporation. The Villas at Vintage Oaks includes 22 independent living villas, and Vintage Gardens Assisted Living has 80 assisted living suites.
Capital Senior Living was also able to receive $4.5 million in financing through Berkadia's proprietary bridge lending program. The two-year, floating-rate loan will be used to buy Autumn Glen, an assisted living facility in Indiana.