Austin, Texas – January 28, 2025 – Berkadia Seniors Housing & Healthcare announced today the successful sale and financing of a premier Class A senior living community located in Austin, Texas. The independent living, assisted living, and memory care property was built in 2016 and expanded in 2019.
Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare represented the seller, Artemis Real Estate Partners. The property was acquired by an affiliate of Walton Street Capital L.L.C. and will continue to be managed by Civitas Senior Living, a leading Texas-based operator.
Managing Directors Austin Sacco and Steve Muth and Senior Director Garrett Sacco of Berkadia Seniors Housing & Healthcare secured acquisition financing through a national bank. The financing, which featured an attractive interest rate and interest-only terms, generated significant interest from lenders.
With all parties focused on closing the transaction quickly and efficiently, the deal was able to close within just 45 days of Letter of Intent execution.
The property is located in a highly desirable and affluent submarket, characterized by strong seniors housing demand and favorable income demographics. The community boasts high occupancy rates exceeding 95% and robust cash flows, underscoring its position as a standout asset in an undersupplied market.
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. 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 Texas Berkadia Real Estate Advisors LLC conducts business under Jay Gunn’s Texas Real Estate Broker Lic. #9002106. 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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