Atlanta, Georgia – February 14, 2023 – Berkadia Seniors Housing & Healthcare announced today the sale and financing of Brighton Gardens of Buckhead, a 112-unit assisted living and memory care community in Atlanta, Georgia. Managing Directors Cody Tremper, Mike Garbers, Dave Fasano, and Ross Sanders of Berkadia Seniors Housing & Healthcare led the sale on behalf of the seller, Indianapolis-based Prime Care One, LLC. The community was purchased by Georgia-based PruittHealth, and the transaction closed on January 31.
Managing Director Jay Healy of Berkadia Seniors Housing & Healthcare, in partnership with a publicly traded REIT, closed a $13 million bridge to HUD loan to facilitate the acquisition of Brighton Gardens and refinance of two skilled nursing facilities in the state. The interest-only, fixed rate bridge loan carries a term of three years and is prepayable at any time. Berkadia served as the agent for the lenders.
Brighton Gardens of Buckhead, originally constructed in 1996, was approximately 65 percent occupied at the time of the transaction. The sale presents a tremendous value-add opportunity for PruittHealth who plans to leverage their existing network of local referral sources and bring many services in-house to realize significant expense savings.
About Berkadia®:
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.
About PruittHealth
A family-owned organization for more than 50 years, PruittHealth provides a seamless network of post-acute care services and resources, offering skilled nursing and senior living care, veteran
services, home health care, hospice and palliative care, therapy services, pharmacy and infusion services, and more across the Southeast. The organization’s 13,800 employed partners serve approximately 24,000 patients daily in locations in Florida, Georgia, Maryland, North Carolina, South Carolina, and Tennessee. For more information about our commitment to caring, visit PruittHealth.com.
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Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In Georgia, Berkadia Real Estate Advisors LLC conducts business under Georgia Real Estate Broker Lic. #H-65559. Judith MacManus is the designated broker for Georgia with the license number #H-65559. Cody Tremper’s Texas license number is #622302, Mike Garbers’ Florida license number is #BK3300367, Dave Fasano’s Texas license number is #737206, and Ross Sanders’ Missouri license number is #2007038807.
In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116.
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