NEW YORK — Mortgage broker Berkadia has arranged $93.2 million in financing over two separate transactions for ROC Seniors Housing Fund Manager LLC.
In the first transaction, Berkadia arranged an $84 million loan from BBVA Compass Bank for the acquisition of 14 seniors housing communities spread across California, Oklahoma, Texas, North Carolina, Ohio and West Virginia.
Berkadia contributed $20 million of the overall financing through its Propriety Bridge Lending Program. In total, the facilities consist of 1,038 units: 719 assisted living units, 208 memory care units and 111 independent living units. Christopher Fenton, managing director of Berkadia’s Seniors Housing and Healthcare group, secured the financing for ROC, which is a seniors housing investment fund.
In the second transaction, Berkadia arranged a $9.2 million loan for the acquisition of The Landing of Canton, a 76-unit assisted living and memory care facility located in Canton, Ohio.