Updated Sep 2, 2026
S&P 500 Company Acquires 178-Unit Heartis Mid Cities Senior Housing Community In Bedford For Undisclosed Amount
2308 State Highway 121
Units
178
Asset Type
Senior Housing
Closing
Aug 28, 2026
About this deal
AI
The transaction involved the acquisition of the 178-unit Heartis Mid Cities senior living community located at 2308 State Highway 121 in Bedford, Texas. This senior housing asset is part of a market that focuses on providing living solutions for seniors.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: Not disclosed
- Units: 178
- Address: 2308 State Highway 121
- Market: Bedford, TX
- Seller: Caddis Partners
- Brokerage: Berkadia
- Brokers: Cody Tremper, Mike Garbers, Ross Sanders, Dave Fasano
An S&P 500 company focused on seniors housing completed the acquisition from a joint venture between Caddis Partners and a private equity real estate fund. Berkadia's team, comprised of Ross Sanders, Dave Fasano, Cody Tremper, and Mike Garbers, represented the sellers throughout this transaction.
Players
Bedford 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