Berkadia Brokers Sale of 178-Unit Heartis Mid Cities Senior Housing Community in Bedford, Texas

BEDFORD, Texas — Aug. 28, 2026 — Berkadia has arranged the sale of Heartis Mid Cities, a 178-unit independent living, assisted living, and memory care community in Bedford, Texas, the firm announced. The buyer is an S&P 500 company focused on seniors housing, and the seller was a joint venture between Dallas-based Caddis Partners and a private equity real estate fund.

Senior Managing Directors Ross Sanders, Dave Fasano, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare represented the seller in the transaction.

Property Overview

Heartis Mid Cities is located at 2308 Highway 121 in Bedford, Texas, in the Mid-Cities corridor between Dallas and Fort Worth. The community opened in 2018 and offers a full continuum of care across independent living, assisted living, and memory care. Unit layouts include one-bedroom, one-bedroom plus den, and two-bedroom plus den configurations. The property operates under the Heartis brand and is part of The Aspenwood Company Senior Living platform.

At eight years old, Heartis Mid Cities is among the newer seniors housing assets in its submarket, a characteristic that has become an increasingly important differentiator for institutional buyers seeking lower capital-expenditure risk and modern amenities.

Deal Context and Parties

Caddis Partners, a Dallas-based healthcare real estate developer and investor, co-owned the asset through a joint venture with a private equity real estate fund. The sale follows an approximately eight-year hold period that spanned the community's initial lease-up and operational seasoning.

The buyer, identified only as an S&P 500 company focused on seniors housing, reflects continued appetite among large institutional owners for newer, full-continuum product in high-growth Texas markets. Berkadia's Seniors Housing & Healthcare team — Ross Sanders, Dave Fasano, Cody Tremper, and Mike Garbers — advised the selling joint venture throughout the process.

Market Backdrop

The transaction comes as seniors housing fundamentals across the country have strengthened following pandemic-era disruptions, with occupancy recovery supported by demographic demand and constrained new supply in many submarkets. The DFW Metroplex has drawn sustained institutional interest in seniors housing as the region's aging population expands.

Full-acuity communities — those offering independent living, assisted living, and memory care under one roof — have attracted particular attention from long-term institutional capital, which values the operational flexibility and broader resident base such properties provide. Heartis Mid Cities, as a 2018-vintage asset with modern amenities and a hospitality-oriented positioning, fits the profile that larger buyers have prioritized in recent transaction cycles.

About Berkadia Seniors Housing & Healthcare

Berkadia Seniors Housing & Healthcare provides advisory, underwriting, and loan origination services for active adult, independent living, assisted living, memory care, and skilled nursing properties nationwide. The group's financing capabilities span FHA, Fannie Mae, Freddie Mac, life company, proprietary bridge lending, and capital markets advisory services.