Berkadia Arranges $114.37M Loan For Assisted Living Portfolio In Ohio And Pennsylvania

The transaction involves a senior housing asset categorized under assisted living, featuring a total of 580 units. The portfolio is located across Ohio and Pennsylvania and was acquired in 2022. The current occupancy stands at 86%, and the refinance is aimed at stabilizing the properties within 12 to 18 months. The total loan amount secured for this refinancing is $114,370,000, structured as a two-year, interest-only bridge loan.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $114,370,000
• Loan Type: Refinance
• Loan Terms: Two-year, interest-only
• Units: 580
• Landlord: Bloomfield Capital Partners LLC
• Representative for Landlord: Ryan Novaczyk - New Perspective Senior Living LLC
• Brokers: Steven Muth, Garrett Sacco, Austin Sacco, Alec Rosenfeld - Berkadia

Berkadia played a crucial role in facilitating the refinance, arranging the bridge loan through Bloomfield Capital Partners LLC on behalf of a joint venture, which includes New Perspective Senior Living LLC. The proceeds from the loan will be used to retire existing maturing debt and to fund essential capital improvements for the assisted living portfolio.