WASHINGTON, D.C. – November 12, 2019 – Berkadia today announced the successful sale of two independent living communities located in Springfield, Missouri and Peoria, Illinois. Investment Sales Lead Tim Cobb of Berkadia’s Seniors Housing & Healthcare group completed the sale on behalf of Dallas-based Capital Senior Living Corporation (NYSE:CSU).
Berkadia used its extensive lending network to identify Inland Private Capital Corporation as the right buyer. It is Inland’s first senior housing acquisition. The two properties consist of 316 units and will be operated by Dial Communities.
“This transaction demonstrates the value Berkadia’s diversified lending and advisory platforms provides to clients, as the process revealed a unique and emerging buyer of senior housing,” said Cobb.
“Berkadia is a trusted and valued partner for Capital Senior Living. We appreciate the thorough work done by Tim and his team throughout the sale process to make this a successful transaction,” said Carey P. Hendrickson, Capital Senior Living’s Executive Vice President and Chief Financial Officer.
Berkadia’s Seniors Housing & Healthcare group leads the industry in innovative and comprehensive solutions for even the most complex 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. Last year, the team expanded its capabilities by adding an investment sales presence, rounding out its full suite of services.