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**Berkadia Facilitates Sale and Financing of Iowa Senior Housing Community**
Berkadia has successfully completed the sale and financing of two senior housing communities offering independent living, assisted living, and memory care services—one of which is located in Iowa.
The two properties collectively comprise 337 units. Among them is Grand Living at Bridgewater, located just north of the University of Iowa campus in Iowa City, near the VA Medical Center and the Iowa City Municipal Airport. Built in 2018, the facility includes 170 units and offers a full range of senior living options.
The sale was led by Berkadia’s Seniors Housing & Healthcare team—Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers—on behalf of the sellers, PGIM Real Estate and Ryan Companies.
The acquisition’s permanent financing was arranged by another Berkadia team consisting of Managing Directors Austin Sacco and Steve Muth, Senior Director Garrett Sacco, and AVP Alec Rosenfield. The financing was secured through Freddie Mac. The buyer in the transaction was Chicago Pacific Founders and its operating arm CPF Living Communities.
Also included in the transaction was Grand Living at Citrus Hills, a 167-unit independent living community located in Florida.
This transaction reinforces the continued investor interest in quality senior housing properties in key regional markets.
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