DALLAS, TX – September 10, 2018 – Berkadia today announced the addition of Senior Director Bianca Andujo to its Seniors Housing & Healthcare group. Andujo joins the mortgage financing team, reporting into Senior Managing Director Heidi Brunet, and will be based in Dallas, Texas.
“Bianca brings unparalleled experience and demonstrated expertise to our already robust, full-service Seniors Housing and Healthcare group,” said Brunet. “As we continue to expand and deepen our relationships with clients and seek to find them the best opportunities in the market, she will be an invaluable and essential addition.”
Andujo joins Berkadia from Bank of Texas, where she served as Senior Vice President and Healthcare Banking team lead. In her role, she was responsible for driving healthcare banking loan growth, overseeing a team of seven and a total portfolio of $450 million. Her primary focus was skilled nursing facilities, with a national reach across eight states in the Northeast, Upper Midwest, and Texas.
“I’m thrilled to join Berkadia’s Seniors team, one of the best in the business, and to add my expertise and experience to their work with skilled nursing facilities,” said Andujo. “Recent trends in skilled nursing facility occupancy and price per bed have put pressures on operators and owners. At the same time, we know that the senior population is only going to continue to grow, anticipated to reach 74 million by 2030. Opportunities in this market exist, but they must be carefully evaluated in terms of market trends, risk analysis and complexity and executed by an experienced team. Berkadia’s team is equipped to do just that and I’m excited for what the future holds.”
According to data from Irving Levine Associates, in 2017 the average price per-bed for skilled nursing facilities plunged 18 percent. At the same time, occupancy has fallen. According to the National Investment Center for Seniors Housing and Care’s latest Skilled Nursing Data Report, the occupancy of skilled nursing properties fell significantly in the fourth quarter of 2017 to 81.9 percent, down 66 basis points from the previous quarter, and 159 basis points year-over-year.
Prior to her role as the Healthcare Banking team lead, Andujo was a leading relationship manager, exceeding loan production goals for five consecutive years, resulting in new loan production of $400 million. She earned a B.S. in Economics from Southern Methodist University.
Berkadia’s Seniors Housing & Healthcare Group 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.
In 2017, Berkadia’s Seniors Housing team completed more than $1.7 billion in loan volume, including closing over $1 billion in financings in a single day.