Berkadia Commercial Mortgage LLC, Horsham, Pa., has expanded its staff in the senior housing and healthcare lending business, in what it calls a renewed commitment to those markets.
Daniel J. Biron has joined the firm as a senior vice president to serve as co-head of healthcare financing with Stephen J. Ervin, who joined the firm in August. Biron will oversee all loan originations for the healthcare and senior housing industry through Berkadia's agency financing and proprietary lending programs. He is based in New York.
Prior to joining Berkadia, Biron worked at Walker & Dunlop, where he served as senior vice president and group head of healthcare finance responsible for origination of senior debt financing through Fannie Mae, Freddie Mac, and HUD for the senior housing industry nationwide.
He currently serves on the board of directors for the National Investment Center for the Seniors Housing & Care Industry (NIC).
Christopher Fenton, vice president, mortgage banker, has also joined the firm. He will report to Ervin and Biron. He is based in Lenox, Mass., and is 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 has also extended its proprietary bridge lending program, which launched in March, to owners and operators eligible for agency financing in the senior housing and healthcare asset classes. The program offers 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.
Finally, Berkadia has entered into a partnership with the NIC, a not-for-profit organization whose mission is to “to advance the quality of seniors housing and care by facilitating informed investment decisions through best-in-class data, research, networking events and professional education.”
