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NEW YORK CITY — Berkadia has arranged $114.4 million in refinancing for an assisted living portfolio located in Ohio and Pennsylvania. A joint venture between New Perspective Senior Living and an undisclosed seniors housing owner was the borrower.
Totaling 580 units, the portfolio is located in metro Cleveland and western Pennsylvania. As of January 2025, occupancy throughout the portfolio was 86 percent. The joint venture acquired the portfolio in 2022.
Bloomfield Capital Partners provided the financing, which includes a two-year, interest-only bridge loan. Steve Muth, Garrett Sacco, Austin Sacco and Alec Rosenfeld of New York City-headquartered Berkadia secured the financing on behalf of the borrower.