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Florida & Gulf Coast   /   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.

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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.
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