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Chicago & Midwest  + Midwest  + Senior Housing  |  July 22, 2025
Jasmine Kilman
By: Jasmine Kilman

Berkadia Arranges Sale, Financing of Iowa Senior Housing Property

Berkadia completed the sale and financing of two independent living, assisted living, and memory care communities, including one in Iowa.

The pair of senior housing communities consists of a combined total of 337 units. Grand Living at Bridgewater is situated just north of the University of Iowa campus in Iowa City, VA Medical Center, and Iowa City Municipal Airport. Built in 2018, it features 170 independent living, assisted living, and memory care units.

Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare led the sale on behalf of the sellers, PGIM Real Estate and Ryan Companies.

Managing Directors Austin Sacco and Steve Muth, Senior Director Garrett Sacco, and AVP Alec Rosenfield of Berkadia Seniors Housing & Healthcare secured acquisition permanent financing through Freddie Mac. The buyer was Chicago Pacific Founders and its subsidiary CPF Living Communities. The transaction also included Grand Living at Citrus Hills in Florida, a 167-unit independent living facility.

Read More News Stories About: Berkadia
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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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