FOR IMMEDIATE RELEASE
NEW BRAUNFELS, TX – June 24, 2024 – Berkadia announced today the sale of The Blake at New Braunfels, a resort-style, 112-unit assisted living and memory care community in New Braunfels, Texas. Berkadia Seniors Housing & Healthcare, led by Managing Directors Cody Tremper, Mike Garbers, Dave Fasano, and Ross Sanders, closed the transaction on behalf of Biloxi, Mississippi-based LifeCare Properties, a wholly owned subsidiary of Comvest Properties. The property was purchased by Scottsdale, Arizona-based Inspired Healthcare Capital.
The Blake at New Braunfels is a new vintage, Class A community that has maintained consistently outstanding occupancy and strong NOI during a turbulent time for most operators. Located deep in the heart of the Texas Hill Country, the property is conveniently set along the Interstate 35 corridor between San Antonio and Austin. The community is just one block from the Resolute Baptist Hospital, offering a full range of services as well as emergency care and a Level II NICU.
Built in 2021, the property features 71 assisted living units and 41 memory care units. Property amenities include spacious suites with flexible floor plans, salon, movie room, on-site physical therapy clinic, and gathering and activity rooms. Inspired Healthcare Capital is creating a new operating partnership with Blake Management and retaining them as manager moving forward.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for even the most complex active adult, 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.
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.
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Media Contact:
Page Lowry
Berkadia Real Estate Advisors LLC
610.812.2229
Page.Lowry@berkadia.com
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