Berkadia, a leading real estate investment firm, has successfully sold three senior living communities in the Chicago and Milwaukee areas. The properties offer high-quality assisted living and memory care services.
The sale was facilitated by Berkadia Seniors Housing & Healthcare team, led by experienced Managing Directors Ross Sanders, Dave Fasano, Cody Tremper, and Mike Garbers. They represented the seller – a joint venture between Caddis Partners from Dallas and a private equity real estate fund. The buyer is a publicly traded REIT.
One of the properties included in this 306-unit transaction is Heartis of Orland Park – an assisted living community located just 25 miles southwest of downtown Chicago. It opened its doors in 2018 with 96 units dedicated to providing top-notch care for seniors with memory loss or other age-related challenges.
The other two properties are Heartis Village Brookfield and Heartis Village North Shore situated in Brookfield and Glendale respectively within Wisconsin state borders. Both facilities were built last year (2019) to accommodate up to 210 residents seeking assisted living or specialized dementia care services.
These Class A assets have consistently maintained high occupancy rates while also experiencing steady rental rate growth over time due to their exceptional quality standards. With limited new developments underway within Milwaukee’s metropolitan area where these communities are located; they are well-positioned for continued success under new ownership.
