Seattle & Northwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Seattle & Northwest  + Pacific Northwest  + Senior Housing  | 

Berkadia Secures $40M in Financing for PNW Skilled Nursing Facilities

Berkadia’s Seniors Housing and Healthcare Group recently secured nearly $40 million in loan closings. The deals involved skilled nursing facilities across the country, including assets in Washington, Oregon, Idaho and Montana.

The Pacific Northwest assets included two HUD 232/223(f) loans for two skilled nursing facilities located in Oregon and Washington. The aggregate loan proceeds of $15.38 million represented combined LTV of 74% based on the $190,000-per-bed portfolio valuation. HUD loan proceeds were used to retire construction and mezzanine financing on the 2016-built Washington state project (pictured), and Berkadia bridge debt on the other.

The original purpose of the Berkadia bridge loan was to allow the Washington-based sponsor to recoup equity ahead of the HUD refinance. Berkadia’s Jay Healy arranged the financing.

Healy also secured a $6.7-million 232/223(a)(7) HUD loan to refinance the existed HUD debt associated with a 79-bed skilled nursing facility located in Montana.

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser


Inside The Story

Connect With Berkadia’s Healy

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
New call-to-action
Conf_Stat_300x250_Banner_DG23_Retarg__2 Advertisement
New call-to-action