Berkadia Announces Class-A Senior Living Sale & Financing in Chicago MSA
Lake Bluff, Illinois – March 9, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale and financing of The Sheridan of Green Oaks, a Class-A, 198-unit independent living, assisted living, and memory care community in Lake Bluff, Illinois. Built in 2016, the community is located in the Chicago region’s affluent northern suburbs, approximately 35 miles north of downtown and attracted institutional investor interest through a competitive marketing process.
Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the sale transaction on behalf of AEW Capital Management, a Boston-based real estate investment firm, following active buyer demand for best-in-class seniors housing in premier suburban Chicago locations.
Managing Directors Garrett Sacco, Austin Sacco, and Steve Muth, along with Assistant Vice President Alec Rosenfeld of Berkadia Seniors Housing & Healthcare secured $46 million in acquisition financing through a national bank on behalf of the buyer group, an institutional investor. The floating-rate loan featured up to five years in term with an attractive interest rate, full term interest-only, and flexibility to execute the business plan upon acquisition.
Solera Senior Living, a premier Colorado-based senior living operator, will manage the community moving forward, bringing its specialized operational expertise to enhance resident experience and drive long-term performance.
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.