Berkadia Arranges Sale, Financing of Iowa Senior Housing Property

Berkadia Arranges Sale, Financing of Iowa Senior Housing Property
News| July 22, 2025| Jasmine Kilman
Chicago & Midwest

Berkadia completed the sale and financing of two independent living, assisted living, and memory care communities, including one in Iowa.

The pair of senior housing communities consists of a combined total of 337 units. Grand Living at Bridgewater is situated just north of the University of Iowa campus in Iowa City, VA Medical Center, and Iowa City Municipal Airport. Built in 2018, it features 170 independent living, assisted living, and memory care units.

Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare led the sale on behalf of the sellers, PGIM Real Estate and Ryan Companies.

Managing Directors Austin Sacco and Steve Muth, Senior Director Garrett Sacco, and AVP Alec Rosenfield of Berkadia Seniors Housing & Healthcare secured acquisition permanent financing through Freddie Mac. The buyer was Chicago Pacific Founders and its subsidiary CPF Living Communities. The transaction also included Grand Living at Citrus Hills in Florida, a 167-unit independent living facility.

Other News

One Beverly Hills Reaches Milestones Ahead of Schedule

California & West + Apartment Buildings

The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...

Learn more

Metro Loft, David Werner Secure $231M Loan for Midtown East Residential Conversion

New York & Tri-State + Apartment Buildings

Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...

Learn more

Rental Affordability Declines in Most Metros, but Improved Housing Quality is a Factor

Apartment Buildings

Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up