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Berkadia Secures $26.8M HUD Financing for Washington Assisted Living Facility
Berkadia has successfully arranged $26.8 million in HUD 232/223(f) financing for an assisted living facility located in Washington state.
In September, Berkadia’s Seniors Housing & Healthcare team—led by Managing Directors Austin Sacco and Steve Muth, along with Senior Director Garrett Sacco—closed the financing transaction on behalf of a repeat client, a Pacific Northwest-based sponsor. The lender’s long-standing relationship with the sponsor, who has managed the community since 2017, played a key role in the seamless transition.
This latest HUD loan refinances an existing Berkadia bridge loan, allowing the sponsor to retire prior bank debt and unlock equity accrued through years of operational success. The facility comprises more than 200 beds and provides much-needed senior housing and care services in the region.
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