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MIAMI — BHI, through its Healthcare Group. has arranged $41.9 million in construction financing for the Oasis at Coral Reef, a luxury senior living facility under development in Miami.
The 217,123-square-foot property is located adjacent to Jackson South Medical Center. BHI has provided $31.9 million and Coastal States Bank provided $10 million.
The borrower is Royal Senior Care, which owns and operates senior living facilities in the Southeast with a primary focus in South Florida.
The Oasis at Coral Reef will offer a total of 201 “catered living,” assisted living and memory care units in three buildings spread over an 8.67-acre campus. A timeline for completion was not released.