Berkadia, a distinguished leader in the commercial real estate sector, announced that Managing Director Steve Muth and Director Andrew Lanzaro from Berkadia Seniors Housing & Healthcare successfully closed two loans totaling $5.1 million using HUD’s 232/223(f) program for a Southeast-based owner and operator of seniors housing communities and repeat Berkadia client.
The refinancing paid off the remaining bank debt for a crossed pool of four assets in Mississippi containing 157 units including 149 assisted living and 8 memory care. The two earlier loans closed in late 2024 due to their opportunity zone location, which allowed for expedited processing. The total loan proceeds of $14 million also retired partnership debt from a prior addition funded by the sponsor.
Two of the assets were built in 1998 with additions about 10 years ago, one was built in 2003, and the last in 2013. All four loans achieved 35-year fully amortizing terms.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for active adult, independent living, assisted living, memory care and skilled nursing projects across the country.
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.
Steve Muth is an experienced banker with over 14 years in the healthcare and seniors housing sectors. At Berkadia, Steve specializes in delivering comprehensive mortgage debt solutions, including FHA/HUD, Fannie Mae, Freddie Mac, and Berkadia’s Proprietary Lending Bridge. Andrew Lanzaro is a Director based out of New York City with Berkadia Seniors Housing & Healthcare. He is focused on providing financing solutions to owners and operators of seniors housing and skilled nursing communities across the United States.
