Berkadia negotiated the sale of Trulee Evanston, a 160-unit, Class-A full acuity trophy senior living asset in the affluent northern Chicago suburb of Evanston. Completed in 2021, Trulee Evanston is a nine-story community offering 127 independent living/assisted living units and 33 memory care units.
Senior Managing Directors Dave Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the sale transaction on behalf of AEW Capital Management, a Boston-based real estate investment firm. The property was purchased by a large national REIT. Solera Senior Living will continue to operate the community on behalf of its new owner.
The transaction reflects continued institutional demand for high-quality, stabilized seniors housing in supply-constrained markets with compelling resident demographics.
Located near downtown Evanston, Northwestern University, healthcare providers, retail, dining and public transportation, Trulee Evanston offers residents a hospitality- and wellness-oriented experience. Its amenities include chef-prepared dining, a ninth-floor Skyline Club, fitness and wellness spaces, an outdoor courtyard, theater, art studio, concierge services, local transportation and on-site salon services.
