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Washington DC & Mid-Atlantic  + Maryland  + Senior Housing  |  October 23, 2024
Jasmine Kilman
By: Jasmine Kilman

Berkadia Completes Sale, Secures $17M for Senior Housing

Berkadia closed the sale and financing of Gardens of Annapolis, an active adult community located in the upscale coastal suburb of Annapolis, Maryland.

This 106-unit property is in close proximity to downtown Annapolis and the United States Naval Academy. Berkadia Seniors Housing & Healthcare facilitated both the investment sales and mortgage banking advisory for the transaction. Managing Directors Cody Tremper, Dave Fasano, Ross Sanders, and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the sale on behalf of Crow Holdings.

Managing Directors Austin Sacco and Steve Muth and Assistant Vice President Alec Rosenfeld of Berkadia Seniors Housing & Healthcare secured $17.47 million in acquisition financing through Fannie Mae on behalf of the buyer, a joint venture between Corten Real Estate and Real Asset Industries. The seven-year fixed rate loan features both an attractive interest rate and interest only period.

Built in 2002, Gardens of Annapolis offers a mix of 42 one-bedroom/one-bathroom units, 23 two-bedroom/one-bathroom units, and 41 two-bedroom/two-bathroom units.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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