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2308 State Highway 121

Updated Sep 2, 2026

S&P 500 Company Acquires 178-Unit Heartis Mid Cities Senior Housing Community In Bedford For Undisclosed Amount
SOLDSenior Housing

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:

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

Cody Tremper

Berkadia

Broker

$41.2M

vol

10 deals

Broker
CP
Caddis PartnersSeller

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

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