Berkadia successfully facilitates the sale and financing of Rivertown Ridge, a Class-A senior living community in Wyoming, Michigan, paving the way for expansion under new ownership.

Target Information

Rivertown Ridge is a Class-A senior living community located in Wyoming, a suburb of Grand Rapids, Michigan. Completed in 2020, the facility comprises 152 units that cater to independent living, assisted living, and memory care needs. Since its inception, Rivertown Ridge has demonstrated strong operational performance, showcasing the effectiveness of its management.

The community transitioned to new ownership when Redstone Homes took over operations in 2023, quickly achieving high occupancy rates and exhibiting strong operating margins, reflecting the demand for quality senior living facilities in the area.

Industry Overview

The senior housing industry in Michigan is experiencing significant growth, driven by an aging population and increasing demand for quality care options. As Michigan's population ages, the need for div