Scottsdale, Arizona – February 28, 2025 – Berkadia, a leader in the commercial real estate industry, announced today the successful arrangement of $14.6 million in bridge financing for an assisted living facility in New Port Richey, Florida.
Scottsdale, Arizona – February 28, 2025 – Berkadia, a leader in the commercial real estate industry, announced today the successful arrangement of $14.6 million in bridge financing for an assisted living facility in New Port Richey, Florida.
Managing Directors Ed Williams and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured financing for a Florida-based sponsor and first-time client through Berkadia’s bridge lending program. The 12-month, interest-only loan was used to retire existing debt and return capital to the sponsor for future development. The community was constructed in 2020 and reached stabilized occupancy within 12 months of opening. Occupancy has remained at or above 95% since that point. Berkadia is expected to close the subsequent HUD refinance by the end of 2025.
Berkadia’s Seniors Housing & Healthcare group leads the industry in innovative and comprehensive solutions for even the most complex 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 advisory, underwriting, loan origination services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.
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