Berkadia Completes Sale and Secures Acquisition Financing for Senior Living Community in Detroit MSA
Detroit, Michigan – March 18, 2025 – Berkadia Seniors Housing & Healthcare announced today the successful sale and financing of Clinton Creek Assisted Living and Memory Care, a senior living community in the Detroit metropolitan area. Located in Clinton Creek Township, the property was built in 2019 and offers 60 assisted living and memory care units.
Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare represented the seller, a local owner/operator. The property was acquired by California-based Titan SenQuest Management, Inc., who has a presence in Michigan. The property was 90% occupied at closing.
Managing Director Jay Healy and Director Andrew Lanzaro of Berkadia Seniors Housing & Healthcare funded the bridge to HUD loan for the buyer. The 18-month, interest-only, prepayable loan represents 67% of the purchase price and costs. The HUD refinance is expected to close in the 4th quarter of 2025.
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. With deep market knowledge, Berkadia Seniors Housing & Healthcare offers a full set of capital markets advisory, underwriting, loan origination services and products including FHA/HUD, Fannie Mae, Freddie Mac, Life Company, and Proprietary Bridge Lending.