Berkadia Provides $26M Loan for Refinancing of Affordable Seniors Housing Property in Union City, New Jersey

UNION CITY, N.J. — Berkadia has provided a $26 million permanent loan for the refinancing of an affordable seniors housing property in the Northern New Jersey community of Union City.

Bella Vista Senior Apartments consists of 231 Section 8 housing units in a 24-story building.

Laura Smith of Berkadia originated the 35-year loan through HUD’s 223(f) program on behalf of the borrower, Orlando Partners LLC.