November 14, 2019
Berkadia arranged the sale of two independent living communities in Springfield, MO and Peoria, IL. Tim Cobb of Berkadia’s seniors housing & healthcare group completed the sale on behalf of Dallas-based Capital Senior Living Corporation, which said recently it had sold the non-core properties for a combined $64.8 million.
Berkadia used its extensive lending network to identify Inland Private Capital Corporation (IPC) as the right buyer. It represents IPC’s first senior housing acquisition, following its announcement earlier this fall that it would enter the sector. The two properties consist of 316 units and will be operated by Dial Communities.
“This transaction demonstrates the value Berkadia’s diversified lending and advisory platforms provides to clients, as the process revealed a unique and emerging buyer of senior housing,” said Cobb.
“Berkadia is a trusted and valued partner for Capital Senior Living,” said Carey P. Hendrickson, Capital Senior Living’s EVP and CFO.
For comments, questions or concerns, please contact Paul Bubny