Berkadia announced the refinancing of Abbotswood at Irving Park, a senior living community in Greensboro, North Carolina.
Managing Directors Austin Sacco and Steve Muth, along with Senior Director Garrett Sacco and Assistant Vice President Alec Rosenfeld of Berkadia Seniors Housing & Healthcare, secured $71.26 million in financing through Freddie Mac on behalf of the sponsor, California-based KISCO Senior Living. The deal closed on November 21.
“We are thrilled to have placed this loan on behalf of such a high-quality sponsor. The meaningful cash-out component is an extremely attractive feature and is a testament to Berkadia’s market leading debt platform,” said Sacco.
Abbotswood at Irving Park offers a full spectrum of senior living options, including premier cottages, independent living residences, assisted living apartments, and memory support suites. The close-knit community and central location in Irving Park provide easy access to cultural events, historical sites, parks, downtown Greensboro restaurants, theatre, shopping, and more.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for even the most complex active adult, independent living, assisted living, memory care and skilled nursing projects across the country. In addition to deep market knowledge, the group offers a full set of investment sales, advisory, underwriting, loan origination services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
