MARGATE and DAVIE, Fla. — Bank Leumi has provided $9.3 million in financing for the acquisition of two assisted living properties in Florida.
The borrower was a South Florida-based owner. The two properties are VIP Care Pavilion Memory Care, a 111-bed community in Margate, and God’s VIP Senior Haven, a 20-bed community in Davie.
The loan has a five-year term and features a 25 year amortization. Priority Life Care will operate both communities.
Hely Santeliz of Bank Leumi originated the loan.