Destin, Florida – December 3, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale American House Bluewater Bay, a 94-unit independent living community in Niceville, Florida, approximately 10 miles northeast of Destin. This is the fourth seniors housing community sold by Berkadia in the Florida panhandle over the past three months, including properties in Panama City Beach, Santa Rosa Beach, and Pensacola.
Managing Directors Ross Sanders, Dave Fasano, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the sale transaction on behalf of REDICO, a Michigan-based real estate development and investment company, and American House, REDICO’s senior living operational affiliate. The property was purchased on October 31 by a long-time owner of senior living communities. American House will remain as the community’s operator under the new ownership.
Built in 2015, American House Bluewater Bay is among the newest independent living communities in the Fort Walton Beach metropolitan area. The community is ideally positioned near Eglin Air Force Base and services a deep, affluent senior demographic in a market with zero new independent living supply in the current construction pipeline. The property was consistently well-occupied and exceeded 95% occupancy at closing.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for 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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