Berkadia Negotiates Sale of Senior Living Community in Richmond, Virginia
RICHMOND, VA – June 20, 2024 – Berkadia announced today the sale of an assisted living and memory care community in Richmond, Virginia. Berkadia Seniors Housing & Healthcare, led by Managing Directors Mike Garbers, Cody Tremper, Dave Fasano, and Ross Sanders, negotiated the 77-unit transaction on behalf of a publicly traded REIT.
The property, located approximately 10 miles southwest of Downtown Richmond, was purchased by a private equity group. Commonwealth Senior Living will operate the community moving forward as Commonwealth Senior Living at Bon Air. The community is located near Midlothian Turnpike and the Powhite Parkway near Chippenham Hospital and currently features 77 assisted living and memory care units with both studio and one-bedroom suites. A full renovation and updating of the community is expected to be completed by the first quarter of 2025.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for even the most complex 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 investment sales, advisory, underwriting, loan origination services and products including FHA, Fannie Mae, Freddie Mac, Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.
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