Caddis JV Sells DFW Senior Housing Community
Ventas purchased the 2018-built property.
A joint venture between Caddis Partners and a private equity real estate fund has sold Heartis Mid Cities, a 178-unit senior community in Bedford, Texas. Ventas acquired the asset, according to public records. Berkadia arranged the deal on behalf of the seller.
Located at 2308 Highway 121, the three-story property broke ground 10 years ago as Caddis’ fifth senior living community in the Dallas-Fort Worth area. The community came online in 2018.
Heartis Mid Cities sits just off Highway 121 and north of Highway 183, with Texas Health Harris Methodist General Hospital less than 2 miles. Fort Worth is nearly 16 miles west, while Dallas is roughly 24 miles east.
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The unit mix features independent and assisted living components, as well as memory care. Independent living and assisted living units comprise studio, one- and two-bedroom floorplans, while memory care features private studios and shared shower suites.
Independent living floorplans range from 560 to 1,120 square feet, while floorplans for the assisted living component range from 390 to 720 square feet. Meanwhile, memory care features 270-to-390-square-foot studios. Independent living apartments have kitchens and in-unit laundry, while assisted living units have kitchenettes.
A pet- and wheelchair-friendly community, Heartis Mid Cities encompasses a fitness center, beauty salon, bistro, art studio, game room, library, theatre, pool and spa. Services include a 24/7 emergency call system, concierge, scheduled transportation, as well as weekly housekeeping and laundry.
Berkadia’s Senior Managing Directors Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers oversaw the deal.
Senior housing sees record in Texas
Texas recorded $1.9 billion in transactions in the first half of this year, according to a recent Colliers report, marking a 39.1 percent growth from the same period in 2025. Investment volume over the latest four quarters reached an all-time high for the third consecutive quarter, with a total of $3.5 billion. REITs and publicly listed buyers were the main drivers of deal activity, the same report shows.
Texas’s record comes amid a new cycle of growth for the industry and continues the national momentum surge of 2025. Last year, senior housing trends showed investors shaking hands for $24 billion worth of deals across the U.S., the highest dollar volume for any rolling four-quarter period since the second quarter of 2015. As of May of this year, the sector recorded some $33.3 billion in investment sales, an 83 percent increase over the previous 12-month period.
