Terrell Gates Of Virtus Real Estate Capital Acquires 118-Unit Senior Housing In Richardson From Jay Peirick And Blanding Beatty

The transaction involved a senior housing asset located at 870 West Arapaho Road in Richardson, Texas. The property comprises 118 units designed for assisted living and memory care.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: Not specified
• Units: 118
• Buyer: Terrell Gates - Virtus Real Estate Capital
• Seller: Jay Peirick - Marquee Capital & Blanding Beatty - Winterpast Capital Partners
• Brokers: Ross Sanders, Dave Fasano, Cody Tremper & Mike Garbers - Berkadia
• Mortgage Brokers: Austin Sacco, Steven Muth, Garrett Sacco & Alec Rosenfeld - Berkadia
• Lender: Freddie Mac

Berkadia was instrumental in arranging both the sale of the property and the financing through Freddie Mac. The seller was a joint venture, bringing together Marquee Capital and Winterpast Capital Partners, while Virtus Real Estate Capital acted as the buyer in this transaction.