Berkadia today announced the financing secured for Hunter’s Creek Senior Cottages. Managing Director Laura Smith and Senior Director Rafael Nobo of Berkadia’s D.C. Metro and Boca Raton offices, respectively, secured the loan on behalf of the borrower, Mainstay Senior Living, LLC. The deal closed December 30.

Hunter’s Creek was financed using HUD’s 223(f) program. The property was built in 2013 under the HUD 221(d)4 program and maintains 100 percent occupancy.

“With COVID-19 restrictions, low interest rates and an unprecedented volume of HUD loan requests, this was a surprisingly smooth transaction with HUD, start-to-finish,” said Smith. “We were able to lock in a rate in the low 2’s and provide additional equity to the borrower at closing. A true ‘win-win’ in our business!”

“This is the fourth transaction we’ve closed with this long-term client and our team is excited for an opportunity to grow our expertise in this region,” said Nobo.

Located at 748 Hunter Creek Drive in Plant City, Florida, Hunters Creek Senior Cottages is an age restricted property (Head of Household 62-Years+) located adjacent to an affiliated assisted living facility, Grace Manor. The two- and three-bedroom patio homes have full size kitchens, separate entrances and single car garages. The property affords convenient access to numerous healthcare, shopping and entertainment options.

About Berkadia®:

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.

To learn more about Berkadia, please visit www.berkadia.com.