Berkadia announced the sale of a Class-A independent living, personal care and memory care community in the Philadelphia MSA. It was built in 2019. Berkadia Seniors Housing & Healthcare, led by Managing Directors Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers, closed the transaction on behalf of the seller, a private equity firm.
The number of residents in the 75+ age cohort within a 10-mile drive of the community is projected to increase by 15.1% over the next five years. This group of seniors boasts an average net worth of over $1.9 million. The primary market area currently features no construction activity and an anticipated demand for an additional 500 independent living, personal care and memory care units by 2030.
