RICHMOND, VA – March 1, 2022 – Berkadia announced today the addition of Managing Director Steve Muth to Berkadia Seniors Housing & Healthcare, serving on the mortgage banking platform. Muth will report to SVP, Head of FHA and Seniors Housing Finance Steve Ervin. Berkadia Seniors Housing & Healthcare closed more than $600 million across in combined investment sales and financing in 2021 and ended the year as the top-ranking Freddie Mac Lender for Seniors Housing. The team’s 42 transactions encompassed a range of high occupancy property types—independent living, assisted living, skilled nursing, memory care—across the country.
“Last year was a much brighter year for the Seniors Housing market, as vaccine rollouts in the first quarter of the year helped occupancy climb and allowed the sector to rebound across the remainder of the year,” said Ervin. “As a result, we saw activity return with investors looking to re-enter, or expand, their presence in the market, and financing picked up dramatically. We’re thrilled to bring Steve on board to help expand the work we’re able to do on behalf of our clients. His background and experience will be an invaluable addition.”
Prior to joining Berkadia, Muth worked at M&T Bank for over ten years as both a commercial banker and mortgage banker. Most recently, he served as Managing Director, Seniors Housing Origination, responsible for originating Fannie Mae, Freddie Mac, FHA/HUD and bridge loans for seniors housing and healthcare properties nationwide. Muth began his career at a KPMG, LLP and is a Certified Public Accountant. He received his Bachelor of Science in Accounting from the State University of New York at Oswego.
“I’m excited to join Berkadia’s experienced Seniors team to continue to help grow its impact in the senior housing market,” said Muth. “With a busy year ahead of us, it will be essential to bring the best insight, resources and technology to bear on behalf of our clients to help them make the right decisions for long-term success and Berkadia Seniors Housing & Healthcare is poised to do exactly that.”
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for even the most complex independent living, assisted living, memory care and skilled nursing projects across the country. In addition to deep market knowledge, the group offers a full set of advisory, underwriting, loan origination services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services. Last year, the team expanded its capabilities by adding an investment sales presence, rounding out its full suite of services.