Berkadia Secures $39M in HUD Financing for Four Seniors Housing Communities Across Four States
SCOTTSDALE, Arizona – September 3, 2026 – Berkadia has secured approximately $39 million in financing through the U.S. Department of Housing and Urban Development for four seniors housing communities located in Alabama, California, Florida, and Oregon, the firm announced. Managing Director Ed Williams of Berkadia Seniors Housing & Healthcare originated all four transactions.
The closings span a range of property types — including skilled nursing, assisted living, and memory care — and reflect a broader push by seniors housing sponsors to consolidate complex capital stacks into long-term, government-insured debt.
$16.7M HUD Refinancing for Plantation, Florida Skilled Nursing Facility
The largest of the four transactions was a $16.7 million HUD loan for a 120-bed skilled nursing facility in Plantation, Florida, structured at 80% loan-to-value on behalf of a repeat Florida-based client. The facility was 87% occupied at the time of closing.
The transaction marked the final refinancing in a multi-property portfolio effort for the sponsor and repaid a Berkadia-funded bridge loan on the portfolio's prior assets. Proceeds from the Plantation loan were then used to retire the sponsor's remaining partnership debt, completing a broader recapitalization of the portfolio. The execution reflects a bridge-to-HUD strategy in which sponsors use short-term capital to assemble or reposition assets before locking in long-term government-insured financing.
$13.3M HUD Loan for Northern California Seniors Housing Community
In a separate July closing, Berkadia arranged $13.3 million in HUD financing for a 37-unit seniors housing community in Northern California comprising 16 assisted living and 21 memory care units. The loan was structured at 80% loan-to-value.
Proceeds consolidated the property's capital stack by retiring existing bank debt and a small business loan while repaying partnership debt — replacing multiple financing instruments with a single long-term HUD loan. The transaction marked the first HUD loan for the Northern California-based sponsor, which was also a new Berkadia client.
Oregon and Alabama Transactions Round Out the Portfolio
Berkadia also closed a $3.78 million HUD loan for a 27-unit assisted living community in Oregon on behalf of a repeat client based in Idaho. The financing was structured at 70% loan-to-value and consolidated two existing bank notes and partnership debt into a single long-term loan. With permanent financing now in place, the sponsor is positioned to pursue additional portfolio growth in the region.
Rounding out the closings was a $5.39 million HUD loan for a 32-unit seniors housing community in Alabama, secured on behalf of a repeat Tennessee-based sponsor. Proceeds refinanced existing bank debt, funded owner-elected capital improvements, and covered transaction costs. The Alabama deal was supported by sub-70% loan-to-value, debt service coverage above 1.60x, and occupancy of 96% at closing — metrics that qualified the transaction for HUD's Express Lane processing. Berkadia noted it was the firm's second Express Lane execution with that sponsor.
Sponsors Seek Long-Term Stability Amid Capital Markets Pressure
Across all four transactions, sponsors used HUD financing to simplify capital structures that had accumulated bank debt, small business loans, partnership obligations, and bridge loans — replacing them with single, long-term government-insured instruments. The pattern reflects conditions in the seniors housing sector where owners are seeking interest-rate stability and reduced refinancing risk compared to shorter-term bank facilities.
Berkadia Seniors Housing & Healthcare offers financing products including FHA, Fannie Mae, Freddie Mac, life company, and proprietary bridge lending, as well as investment sales, advisory, underwriting, and loan origination services for active adult, independent living, assisted living, memory care, and skilled nursing properties.