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Atlanta & Southeast  + Southeast  + Senior Housing  | 

Berkadia Secures $10M Refinancing for Skilled Nursing Facility in Mississippi

Berkadia has secured a $9.7 million loan to refinance Willow Creek Retirement Center, an 88-bed, skilled nursing facility in Byram, MS.

Built in 2000, the recently renovated facility includes 88 skilled nursing beds, including a 20-bed locked Alzheimer Unit, located in 44 private and 22 semi-private rooms. The facility also features a new 4,000-square-foot therapy gym and spa as well as a 10,000-square-foot wing for private rooms.

Laura Saull Smith of Berkadia’s D.C. Metro office secured the HUD refinancing on behalf of WCR LLC and Managing Member Robert Rotolo. The 35-year loan features a low interest rate at a maximum 100 percent of costs loan and 79 percent loan-to-value ratio. The deal closed September 30.

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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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