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WYOMING, Mich. — Berkadia has brokered the sale of Rivertown Ridge, a senior living property located in Wyoming, a suburb of Grand Rapids.
Built in 2020, the community features 152 units and offers independent living, assisted living and memory care.
CPF Living is the buyer, and its wholly owned management company, Grace Management, will operate the property on behalf of CPF. Redstone Homes, the seller, developed the property and assumed operation of the community in 2023.
Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia arranged the sale on behalf of Redstone. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld of Berkadia secured a 10-year, fixed-rate loan through Freddie Mac on behalf of the buyer.