Berkadia Commercial Mortgage announced several hires to expand its presence in senior housing financing last week, as well as the pending acquisition of mortgage banking assets that will enable it to better bolster its senior housing platform.
The company announced it is in the process of acquiring Tavernier Capital Partners, a privately owned commercial mortgage banking company with offices throughout Florida. Additionally, Berkadia has hired Daniel J. Biron as senior vice president of its health care financing division, who will serve as the co-head of healthcare financing along with Stephen J. Ervin, who joined the firm in August.
Prior to joining joining Berkadia, Biron was the senior vice president of Walker & Dunlop, where he was responsible for healthcare finance and senior debt financing through Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development. Biron also serves on the board of directors for the National Investment Center for the Seniors Housing & Care Industry (NIC).
The company also added Christopher Fenton as vice president, mortgage banker in the senior finance group. Fenton will be based in Lenox, Massachusetts and will be responsible for healthcare financing production in the northeast region. Prior to joining Berkadia, he was a vice president at Deutsche Bank Berkshire Mortgage and a vice president at Love Funding, specializing in healthcare.
Berkadia also said it’s expanding it bridge loan program, which provides owners and operates the ability to obtain mortgages of $5 million to $25 million with terms of ten months to two years for acquisition, refinancing and development projects, and will accommodate some larger deals as appropriate.
“Berkadia has made significant commitments to growing our presence in the senior housing and healthcare markets,” said Ervin. “As a firm, we are highly dedicated to expanding our footprint to meet client demands in these industries and to become a top provider of debt financing for retirement homes, hospitals, acute care centers and other medical facilities across the United States.”
Written by John Yedinak