Berkadia refinanced Monark Grove Madison, a 132-unit senior living community in Alabama, securing favorable terms from a national lender to support its continued success.

Target Information

Berkadia has successfully secured a loan to refinance the Monark Grove Madison, a Class A senior living community located in Madison, Alabama. This facility consists of 132 units dedicated to independent living and memory care services. Monark Grove is developed and owned by KIRCO, a Michigan-based real estate firm known for its commitment to quality senior living environments. The refinancing was managed by an experienced team from Berkadia Seniors Housing & Healthcare, including Managing Directors Steven Muth and Austin Sacco, along with Senior Director Garrett Sacco and AVP of Originations Alec Rosenfeld. The successful closure of the loan occurred on July 15, 2025.

Monark Grove Madison not only exemplifies modern living options for seniors but also ensures access to essential services, being strategically situated near Madison Hospital, various shopping centers, Huntsville International Airport, and Madison Golf Center. The property, built in 2022, features 105 independent living units and 27 memory care units, equipped with various amenities such as 24-hour onsite staff, a state-of-the-art fitness center, chauffeur services, and a pool with aerobic classes.

Industry Overview in Alabama

The senior housing sector in Alabama is experiencing significant growth, driven by increasing demand for senior care services as the population ages. The state's demographic shift highlights a burgeoning need for quality living options tail