Berkadia was engaged by Indianapolis-based Leo Brown Group in its divestment of two Class-A seniors housing communities in strong submarkets in Indiana and Ohio. The properties demonstrate robust operating performance with impressive margins, top-line revenue and high occupancy rates.
Each being the newest vintage in their respective submarkets, built in 2020 and 2021, the communities comprise 247 independent living, assisted living and memory care units. The communities were developed by Leo Brown Group and operated by Traditions Management. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers handled the transaction. Berkadia ran a competitive process that ultimately allowed Traditions to retain management.
