Berkadia Announces Two-Property Seniors Housing Sale in Indianapolis
INDIANAPOLIS, INDIANA – December 10, 2024 – Berkadia announced today the sale of two upscale senior living communities offering independent living, assisted living, and memory care services in the Indianapolis metropolitan area. Berkadia Seniors Housing & Healthcare, led by Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers, closed the 242-unit transaction on behalf of the seller, a private equity firm. The properties were purchased by a publicly traded REIT. Traditions Management operates both communities and will continue to manage the properties moving forward.
Traditions of Reagan Park is located in Avon, Indiana, approximately 12 miles west of downtown Indianapolis. Built in 2014, the community offers 125 independent living, assisted living, and memory care units, including 30 independent living villas built in 2016 and 2019.
Traditions of Solana is located in Indianapolis, Indiana, approximately 11 miles north of downtown Indianapolis. Built in 2014, the community offers 117 independent living, assisted living, and memory care units, including 24 independent living villas built in 2014 and 2016.
The portfolio locations have senior demographics well above the national average and are uniquely located within five miles of Indiana University Health and Ascension St. Vincent health systems.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for active adult, independent living, assisted living, memory care and skilled nursing projects 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.