CELEBRATION, Fla. — Big Rock Partners, a national real estate investment management and development firm, has selected Balfour Beatty Construction as construction manager for a $60 million senior living rental community under development in Celebration.
The new community will be Celebration’s first to offer independent living, assisted living and memory care services, with a total of 225 rental residences. The nine-acre site is the only parcel within Celebration planned for senior housing development, according to Balfour Beatty.
Life Care Services will operate the community. The finance advisor is Walker & Dunlop. Sabra Health Care REIT provided Big Rock Partners with $4.5 million financing for the land and will likely provide additional financing for construction.
Construction is projected to begin in late 2015 for opening in mid-2017.