Cincinnati, Ohio – July 8, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of a 146-unit independent living, assisted living, and memory care community in the Cincinnati, Ohio metropolitan area. Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare led the transaction on behalf of the seller, Indianapolis-based Leo Brown Group. The property was purchased on July 1 by a long-time owner of senior living communities. It was developed by Leo Brown Group and managed by Traditions Management, who will continue as the operator.
The Class A community was 95% occupied as of June 30, 2025, with the memory care acuity boasting an occupancy rate of 100%. The property was built in 2021 and features 52 independent living, 64 assisted living, and 30 memory care units with amenities including restaurant-style and casual dining options, fitness room, movie theater, library, salon, outdoor terrace, and resident parking.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for the most complex active adult, independent living, assisted living, memory care and skilled nursing projects across the country. With deep market knowledge, Berkadia Seniors Housing & Healthcare offers a full set of capital markets advisory, underwriting, loan origination services and products including FHA/HUD, Fannie Mae, Freddie Mac, Life Company, and Proprietary Bridge Lending.
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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Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc.
In Ohio Berkadia Real Estate Advisors LLC conducts business under Ohio Real Estate Broker Lic. #REC.2013002196. Ricardo Vidrio is the designated broker for Ohio. Mike Garbers holds Florida license #BK3300367, Cody Tremper holds Texas license #622302, Dave Fasano holds Texas license #737206, and Ross Sanders holds Missouri license #2007038807.
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc.
In California, Berkadia Commercial Mortgage LLC makes or arranges loans pursuant to a California Financing Law license. Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. #01931050. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions.
For state licensing details for the above entities, visit: http://www.berkadia.com/licensing.
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