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Florida & Gulf Coast  + Central Florida  + Senior Housing  |  January 14, 2021
David Cohen
By: David Cohen

Berkadia Secures $7M Refinancing for Age-Restricted Apartments in Plant City

Berkadia has secured a $6.6 million refinancing for Hunter’s Creek Senior Cottages, an age restricted apartment property (head of household 62-Years+) located adjacent to an affiliated assisted living facility, Grace Manor in Plant City, FL.

Located at 748 Hunter Creek Drive, the community consists of two- and three-bedroom units that feature full-size kitchens, separate entrances and single car garages.

Laura Smith and Rafael Nobo of Berkadia secured the loan on behalf of the borrower, Mainstay Senior Living LLC. 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. The deal closed December 30.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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