Berkadia Seniors Housing & Healthcare has closed more than $2 billion in sales and financings so far in 2024, the company announced last week. Transactions are on track to surpass an all-time of 520 deals high set by the company in 2022, Berkadia said.
“We believe the seniors housing sector will be one of the best-performing asset types in the coming years,” stated Senior Vice President and Head of FHA Financing Steve Ervin.
In August, Berkadia announced the financing of four loans totaling $66 million. The transactions included a $20 million bridge-to-HUD loan to refinance a maturing construction loan for PruittHealth, a $12.3 million bridge-to-HUD loan for a Fort Worth, TX-based nursing home owner and operator, and two loans totaling $33.1 million for a repeat client headquartered in Seattle to retire bridge loans for a skilled nursing facility and an independent living/assisted living community.
In September, Berkadia announced the closing of $92.71 million in financing for nine independent living, assisted living and memory care communities across Arizona, Florida, Montana and Oregon. Also in September, the company negotiated the sale of an assisted living and memory care community in Palm Beach County, FL.
Approximately $1.7 billion of Berkadia Seniors Housing & Healthcare’s transaction activity this year took place in the first half. At that time, Cody Tremper, managing director of investment sales, said that the company anticipated the momentum to continue over into the remainder of 2024 “as we see strong demand and clients eager to get deals across the finish line.”
