**Berkadia Secures $15M Loan for Skilled Nursing Facility in Bothell, Washington**
Berkadia has successfully arranged a $15 million loan through HUD’s 232/223(f) program on behalf of a California-based sponsor and repeat client. The deal was facilitated by Jay Healy, Managing Director, and Andrew Lanzaro, Director, of Berkadia Seniors Housing & Healthcare.
The 35-year, non-recourse loan was used to refinance existing bank debt, which had previously paid off an earlier HUD loan and financed a new addition to a 99-bed skilled nursing facility in Bothell, Washington. The expansion project includes the addition of 20 new private rooms, a therapy gym, and a dining area.
Originally constructed in 1964 and 1984, the 4-star rated facility maintains a current 56% quality mix at the time of closing.
Berkadia Seniors Housing & Healthcare provides a comprehensive range of services including advisory, underwriting, and loan origination. Their offerings support a wide array of healthcare real estate sectors such as active adult, independent living, assisted living, memory care, and skilled nursing facilities. Berkadia’s capital platforms include FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending, and Capital Markets Advisory Services.
