FOR IMMEDIATE RELEASE
NEW YORK, NY – July 8, 2024 – Berkadia announced today the sale of two recently developed Class A senior living communities offering independent living, assisted living, and memory care services in Indiana and Ohio. Berkadia Seniors Housing & Healthcare, led by Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers, closed the 247-unit transaction on behalf of Indianapolis-based Leo Brown Group. The properties were purchased on July 2 by a long-time owner of senior living communities. The communities were developed by Leo Brown Group and operated by Traditions Management.
“These two communities are best-in-class, Class A properties, each the newest vintage in their respective submarkets. We were excited to run a very competitive process that ultimately allowed Traditions to retain management,” said Fasano. “Located in strong submarkets, the properties demonstrate robust operating performance with impressive margins, top-line revenue, and high occupancy rates.”
Built in 2020 and 2021, amenities at each community include spacious suites, outdoor terrace and patio areas, a salon, chapel, fitness center, movie theatre, restaurant-style dining, housekeeping services, scheduled transportation, and more.
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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