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Texas  + State of Texas  + Senior Housing  |  November 11, 2024
La Hacienda del Paz
Mike Boyd
By: Mike Boyd

Eagle Pass Sr. Housing Owners Obtain $13M Bridge Loan

Berkadia announced today the financing of La Hacienda de Paz Rehabilitation and Care Center, a 104-bed skilled nursing facility in Eagle Pass, Texas. Jay Healy of Berkadia Seniors Housing & Healthcare closed a $13 million bridge-to-HUD loan for Creative Solutions in Health Care, an owner and operator of nursing homes. Eagle Pass is northwest of Laredo, near the Mexican border.

The 18-month, interest-only bridge loan covered 100% of the cost to purchase the skilled nursing facility’s leased fee interest. The sponsor has successfully operated the property since 2019, and it is anticipated that Berkadia will close the subsequent HUD refinance in the first half of 2025. 

Berkadia Seniors Housing & Healthcare says it has solutions for the most complex active adult, independent living, assisted living, memory care and skilled nursing projects across the country. The group offers a full set of investment sales, advisory, underwriting, loan origination services and products, including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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