PAOLI, Pa. — Berkadia has brokered the sale of Daylesford Crossing, a 78-unit assisted living and memory care community located 25 miles west of Philadelphia in the suburb of Paoli. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare negotiated the transaction on behalf of the seller, Boston-based investment firm AEW Capital Management.
Berkadia also originated an $18 million bridge loan on behalf of the buyer, a joint venture between an Atlanta-based entity that will serve as the general partner and an institutional limited partner. A third party will manage the property on behalf of the joint venture. Jay Healy and Andrew Lanzaro of Berkadia Senior Housing and Healthcare arranged the loan.
Opened in 2015, Daylesford Crossing features a media room, wellness room, library, salon and therapy services, as well as an onsite health center with a laboratory and imaging services.