Berkeley Point Capital Provides $9.3M HUD Refinancing for 63-Unit Seniors Housing Community Near Seattle
TACOMA, WASH. — Berkeley Point Capital has provided a $9.3 million FHA 232/223(f) refinancing for Spring Ridge Assisted Living & Memory Care, a 63-unit seniors housing community in the Seattle suburb of Tacoma.
The loan replaces the existing debt on the property, which was for the acquisition, renovation and expansion of the property.
Tom White led the transaction out of Berkeley Point’s Bethesda, Md., office. The loan features a 3.45 percent interest rate and an 80 percent loan-to-value ratio.