RICHMOND, Va. — Berkadia has hired Steve Muth as a managing director for Berkadia Seniors Housing & Healthcare, serving on the mortgage banking platform.
Muth will report to Steve Ervin, senior vice president and head of FHA and seniors housing finance.
“Last year was a much brighter year for the seniors housing market, as vaccine rollouts in the first quarter of the year helped occupancy climb and allowed the sector to rebound across the remainder of the year,” says Ervin. “As a result, we saw activity return with investors looking to re-enter or expand their presence in the market, and financing picked up dramatically.”
Prior to joining Berkadia, Muth worked at M&T Bank for over 10 years as both a commercial banker and mortgage banker. Most recently, he served as managing director for seniors housing origination, responsible for originating Fannie Mae, Freddie Mac, FHA/HUD and bridge loans for seniors housing and healthcare properties nationwide. Muth began his career at KPMG LLP and is a Certified Public Accountant.
Muth received his bachelor’s degree in accounting from the State University of New York at Oswego.