Berkadia Closes Senior Living Sale in San Mateo

Berkadia arranged the sale of Atria Park of San Mateo, a 135-unit assisted living and memory care community in San Mateo, along the western shores of San Francisco Bay. The seller and sale price were not disclosed.

Managing directors Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia Seniors Housing & Healthcare closed the sale. Following a review of multiple offers, the seller selected a buyer that will rebrand the community as Harbor at Hillsdale. 

The buyer was an institutionally capitalized partnership led by Shelter Real Estate Investment Strategies and Calson Management. Shelter Real Estate Investment Strategies is a senior living investor, providing capital and strategic resources in partnerships with regional operators nationwide. Calson Management is a vertically integrated senior living operator specializing in the development, construction, and long-term operation of senior housing in California. 

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