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VENICE, Fla. — Capital One has provided a $52 million secured term loan for the recapitalization of Jacaranda Trace, a seniors housing community in Venice owned by a joint venture of ROC Seniors Housing Fund Manager and Freedom Senior Management.
Capital One also provided a revolving line of credit to fund future growth of the property.
The community comprises 215 independent living units, 20 assisted living units, 36 memory care units and 162 privately held apartments on 33 acres of land.
The borrower intends to expand the property by adding independent living and assisted living units on the property’s vacant land.