Berkadia announced the sale and financing of Rivertown Ridge, a senior living community in the Grand Rapids suburb of Wyoming, Michigan.

This community, built in 2020, features 152 units of independent living, assisted living, and memory care, and has exhibited strong performance under the owner’s management. Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare facilitated the sale on behalf of Redstone Homes. After developing the community in 2020, Redstone took over operations in 2023, which quickly achieved high occupancy and strong operating margins.

Managing Directors Austin Sacco and Steve Muth, Senior Director Garrett Sacco, and Assistant Vice President Alec Rosenfeld of Berkadia Senior Housing & Healthcare secured a 10-year fixed-rate loan through Freddie Mac for the buyer, CPF Living Communities. The new owner will expand the property by constructing new cottages on an adjacent parcel. CPF Living will use its wholly owned manager, Grace Management Inc., to operate Rivertown Ridge.