The deal closed on December 15.
Berkadia, a distinguished leader in the commercial real estate sector, announced the refinancing of two assisted living and memory care facilities in Texas. Senior Director Garrett Sacco, Managing Directors Austin Sacco and Steve Muth, and AVP Alec Rosenfeld of Berkadia Seniors Housing & Healthcare secured Freddie Mac financing on behalf of the sponsor, Austin-based Journeyman Group.
The seven-year, floating-rate loans feature attractive interest rates and interest-only payments.
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.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
Journeyman Construction, LLC maintains its corporate headquarters in Austin, TX. Throughout its 20+year history, the company has completed over $1 billion of work and has grown to become one of the largest construction firms in Texas. Journeyman was named by Entrepreneur Magazine as one of the 100 fastest growing construction firms in the U.S. In addition to completing thousands of multi-family units in the Austin area and Central Texas, Journeyman’s portfolio includes senior assisted living centers & memory care facilities, K-12 educational facilities, hospitality, retail structures, municipal buildings, as well as parks and recreational facilities.
