BYRAM, Miss. — Berkadia has provided $9.8 million in HUD financing for Willow Creek Retirement Center, a skilled nursing facility in Byram, a suburb of Jackson.
Built in 2000, the property features 88 skilled nursing beds, including a 20-bed memory care unit. The facility also features a new 4,000-square-foot therapy gym and spa and 10,000-square-foot wing for private rooms.
The borrower is WCR LLC, which Robert Rotolo leads. The 35-year loan represents a 79 percent loan-to-value ratio.
Laura Saull Smith of Berkadia’s D.C. Metro office secured the loan, which refinanced existing debt.
“The new HUD loan is limited to 100 percent of costs, and the financing, including the cost of the completed renovation, is a ‘win-win’ for everyone, providing a much more competitive product for this market,” says Saull Smith.