Berkadia announced the sale of The Blake at Waco, a resort-style, 112-unit assisted living and memory care community in Waco, Texas.
Berkadia Seniors Housing & Healthcare, led by Managing Directors Cody Tremper, Mike Garbers, Dave Fasano, and Ross Sanders, closed the transaction on behalf of Biloxi, Mississippi-based LifeCare Properties. The property was purchased by a publicly traded REIT. Blake Management will continue to operate the community moving forward.
The Blake at Waco is located adjacent to the Baylor Scott & White Hospital campus, the fourth-largest hospital in the Texas-based health system. Built in 2021, the property features 71 assisted living units and 41 memory care units. Property amenities include spacious suites with flexible floor plans, salon, movie room, on-site physical therapy clinic, and gathering and activity rooms.
Berkadia Seniors Housing & Healthcare leads the industry in innovative and comprehensive solutions for even the most complex 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.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
