Grand Rapids, Michigan – December 1, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced the sale and financing of Rivertown Ridge, a Class-A senior living community in the Grand Rapids suburb of Wyoming, Michigan. This community, built in 2020, features 152 units of independent living, assisted living, and memory care, and has exhibited strong performance under the owner’s management.
Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare facilitated the sale on behalf of Redstone Homes. After developing the community in 2020, Redstone took over operations in 2023, which quickly achieved high occupancy and strong operating margins.
Managing Directors Austin Sacco and Steve Muth, Senior Director Garrett Sacco, and Assistant Vice President Alec Rosenfeld of Berkadia Senior Housing & Healthcare secured a 10-year fixed rate loan through Freddie Mac for the buyer, CPF Living Communities. The new owner is eager to expand the Class-A property by constructing new cottages on an adjacent parcel. CPF Living will utilize its wholly owned manager, Grace Management Inc, to operate Rivertown Ridge.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for active adult, independent living, assisted living, memory care and skilled nursing communities 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.
###
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
