Berkadia has secured $39.7 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities in Texas.

Information on the Target

Berkadia has facilitated the acquisition of three skilled nursing facilities located in Texas, providing a total of $39.7 million in bridge-to-HUD financing. The financing comes at the hands of Managing Director Jay Healy and Director Andrew Lanzaro, who have leveraged Berkadia’s balance sheet to support the owner/operator based in Fort Worth. This strategic initiative allows the operator to enhance their portfolio of nursing homes.

The facilities previously operated under a triple net lease with the landlords, and the sponsor has successfully acquired the leased-fee interests at valuations below the fee simple value. The acquisition is fortified by the equity generated from successful operational performance and the recent increases in Medicaid rates within Texas.

Industry Overview in Texas

The skilled nursing industry in Texas is characterized by a growing demand for quality healthcare services, driven by an aging population requiring long-term care solutions. The state's generous Medicaid funding and