HORSHAM, PA-Berkadia Commerical Mortgage originated $117 million in financing for a porftolio of 19 senior housing complexes in several states owned by Brookdale Senior Living. The fixed-rate loan, through Berkadia's Fannie Mae DUS program, has a 10-year term, an interest rate of 5.98% and a 30-year amortization.
Brookldale will use the loan to refinance debt set to mature next year. Berkadia's Bill Kauffman and Monique Bimler, senior vice presidents of the firm's Housing & Healthcare Financing Group arranged the loan.
The 19 assets contain just under 1,400 units. They are located in Alabama, Florida, Georgia, Indiana, New Jersey and Tennessee.
Berkadia recently completed another deal on behalf of Brookdale. Last month it originated just under $45 million in fixed-rate debt through its Freddie Mac program for five communities totaling 358 units.
Berkadia, which is 50% owned by investment firm Berkshire Hathaway and formed last year, in December acquired the loan origination business of Capmark Financial Group.
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