Berkadia Closes Class-A Senior Living Trophy Asset Sale in Chicago
Evanston, Illinois – September 8, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of Trulee Evanston, a 160-unit, Class-A full acuity trophy senior living asset in the affluent northern Chicago suburb of Evanston. Completed in 2021, Trulee Evanston is a nine-story community offering 127 independent living/assisted living units and 33 memory care units.
Senior 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. The property was purchased by a large national REIT. Solera Senior Living will continue to operate the community on behalf of its new owner.
The transaction reflects continued institutional demand for high-quality, stabilized seniors housing in supply-constrained markets with compelling resident demographics.
“Trulee Evanston represents a differentiated, high-quality seniors housing asset in one of Chicagoland’s most desirable and supply-constrained submarkets,” said Fasano. “The community’s luxury positioning, demonstrated operating momentum, and central Evanston location created a compelling opportunity for a long-term institutional owner.”
Located near downtown Evanston, Northwestern University, healthcare providers, retail, dining and public transportation, Trulee Evanston offers residents a hospitality- and wellness-oriented experience. Its amenities include chef-prepared dining, a ninth-floor Skyline Club, fitness and wellness spaces, an outdoor courtyard, theater, art studio, concierge services, local transportation and on-site salon services.
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.