Allegro Parkland is a new vintage community that opened in March 2020. The property includes 175 units—61 independent living, 88 assisted living, and 26 memory care units.
Berkadia, a distinguished leader in the commercial real estate sector, announced the refinancing of Allegro Parkland, an independent living, assisted living, and memory care community in Parkland, Florida.
Managing Directors Austin Sacco and Steve Muth, Senior Director Garrett Sacco, and AVP – Originations Alec Rosenfeld of Berkadia Seniors Housing & Healthcare secured a loan from a national bank on behalf of the sponsor, a joint venture between Harrison Street Asset Management and Allegro Senior Living.
The five-year loan featured a 5.95% interest rate, a 30-year amortization schedule, and a 65% loan-to-value ratio.
Allegro Parkland is located in the Fort Lauderdale–Boca Raton–Pompano Beach–Sunrise, Florida MSA, a strong submarket with over 1,298,375 residents aged 65 and older, projected to grow by 15.3% by 2030.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for even the most complex active adult, independent living, assisted living, memory care and skilled nursing projects across the country. With deep market knowledge, Berkadia Seniors Housing & Healthcare offers a full set of capital markets advisory, underwriting, loan origination services and products including FHA/HUD, Fannie Mae, Freddie Mac, Life Company, and Proprietary Bridge Lending.
