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California  + Bay Area  + Senior Housing  | 

Berkadia Closes Senior Living Sale in San Mateo

Berkadia arranged the sale of Atria Park of San Mateo, a 135-unit assisted living and memory care community in San Mateo, along the western shores of San Francisco Bay. The seller and sale price were not disclosed.

Managing directors Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia Seniors Housing & Healthcare closed the sale. Following a review of multiple offers, the seller selected a buyer that will rebrand the community as Harbor at Hillsdale. 

The buyer was an institutionally capitalized partnership led by Shelter Real Estate Investment Strategies and Calson Management. Shelter Real Estate Investment Strategies is a senior living investor, providing capital and strategic resources in partnerships with regional operators nationwide. Calson Management is a vertically integrated senior living operator specializing in the development, construction and long-term operation of seniors housing in California. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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