Berkadia secures nearly $44 million in SNF financing

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Two skilled nursing facilities in New York received $43.9 million in financing through Berkadia Commercial Mortgage LLC, the company announced.

The 280-bed facility in Nassau County now has a nearly 30-year loan through HUD's 232/223(a)(7) program. Berkadia also facilitated a note modification through HUD for a five-story building in Dutchess County, NY, which consists of 160 beds. 

The two transactions resulted in combined debt service savings of over $1.7 million for the borrower. 

Berkadia's Seniors Housing and Healthcare group closed approximately $400 million in HUD and Lean transactions in 2013.