Berkadia announced the sale and financing of Appletree Court, a 118-unit assisted living and memory care community in Richardson, Texas, in the Dallas MSA. The building was built in 1999 and underwent renovations in 2018 and 2023.
Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the sale on behalf of the seller, a joint venture between Marquee Capital (a Milwaukee-based family office affiliate of Marcus Investments) and Winterpast Capital Partners (a Nashville-based real estate investment company). The community will continue to be operated by Vitality Senior Living, Winterpast’s operating partner.
Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld of Berkadia Seniors Housing & Healthcare secured acquisition financing through Freddie Mac on behalf of the buyer, a joint venture between Virtus Real Estate Capital and Winterpast. The seven-year floating rate loan featured an attractive interest rate.
Cushman & Wakefield handled the sale when Marquee Capital and Winterpast acquired the community from Franklin Park Senior Living in December 2022. At that time, it was 90% occupied. Cushman & Wakefield also arranged acquisition financing from a regional lender for that transaction.
