Berkeley Point Capital Provides $8.9M HUD Refinancing for 66-Unit Community in Michigan

BAY CITY, Mich. — Berkeley Point Capital has provided an $8.9 million FHA 232/223(f) loan to refinance Sheffield Bay Assisted Living & Memory Care, a 66-unit seniors housing community in Bay City, approximately 100 miles north of Detroit.

Built in 1999 and newly redecorated, Sheffield Bay features a mix of 37 assisted living units and 29 secured memory care units. The borrower was not disclosed.

Mickey Rist of Berkeley Point Capital led the transaction. The loan features a 35-year term.

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