Updated Sep 15, 2026
Berkadia Closes Sale Of 160-Unit Senior Housing Community In Lenoir For AEW Capital Management
1815 Ridge Avenue
Units
160
Asset Type
Senior Housing
Closing
Sep 11, 2026
About this deal
AI
The transaction involved the sale of a senior housing asset located at 1815 Ridge Avenue, Lenoir, IL. The property consists of 160 units, categorized as Class-A senior living, and includes both independent/assisted living and memory care units. Completed in 2021, this nine-story building serves as a senior living community in the local market.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: Not specified
- Units: 160
- Seller: Jonathan Martin - AEW Capital Management
- Brokers: Dave Fasano, Ross Sanders, Cody Tremper & Mike Garbers - Berkadia
This transaction was facilitated by Berkadia, which represented AEW Capital Management in the sale of Trulee Evanston. Solera Senior Living is set to continue operating the community for the new national REIT owner, ensuring a transition of management following the sale.
Players
Evanston Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93