HUDSON, Fla. — Atlas Senior Living and Rimrock Cos. have entered into a joint venture to build, own and operate The Canopy at Beacon Woods. The assisted living and memory care community will be located in Hudson, approximately 40 miles northwest of Tampa along the Gulf Coast. The property will feature 40 assisted living and 24 memory care units. Construction is scheduled for completion in July 2023.
OCALA, Fla. — Housing Trust Group (HTG) has completed Oak Valley, a $19 million affordable housing community for seniors in Ocala, approximately 70 miles northwest of Orlando. The property features 96 one- and two-bedroom units for residents 62 and older who earn up to 40 percent and 60 percent of the local area median income. Rents range from $369 to $730 per month for income-qualifying residents. The property was 100 percent pre-leased. Oak Valley was developed in partnership with nonprofit AM Affordable Housing Inc., an organization founded by former Miami Heat …
VOLUSIA COUNTY, Fla. — Evans Senior Investments (ESI) has brokered the sale of a 200-bed skilled nursing community in Volusia County, located just northeast of Orlando. Built in 1960s, the community exhibited an older physical plant with all of the rooms at the community semi-private or three-bed wards. At the time of marketing, the community was 41 percent occupied, resulting in a net operating income loss. Prior to the COVID-19 pandemic, the community averaged 73 percent occupancy. ESI represented the seller, a regional owner-operator that sought to exit this community …
LADY LAKE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Vitality Lady Lake, an 89-unit seniors housing community in Lady Lake, located northwest of Orlando adjacent to The Villages. The community features 69 assisted living and 20 memory care units on a nine-acre site, which features room for expansion. The seller is a Northeast-based real estate private equity fund that purchased this asset as part of a large portfolio in December 2021. This asset was an operational outlier from the rest of the portfolio. The buyer …
NEW SMYRNA BEACH, Fla. — Dwight Mortgage Trust, the mortgage REIT affiliate of Dwight Capital, has provided a $27.3 million bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare. The 239-bed skilled nursing facility is located in New Smyrna Beach, a coastal suburb of Orlando. The facility offers its residents short- and long-term care. The loan has a 30-month term. Its proceeds will be used towards capital expenditures and the acquisition. Josh Sturm originated this closing. The names of the buyer and seller were not disclosed.
PEMBROKE PINES, Fla. — ANF Group Inc. and Providence One Partners have broken ground on Providence Living at Pembroke Pines, an assisted living and memory care community in the Miami suburb of Pembroke Pines. The two-story, 114,003-square-foot property is located on 3.2 acres near Pembroke Pines City Center.and will feature 117 units, totaling 121 beds. ANF will handle construction, while Providence One will be the operator upon completion. The project is scheduled to open in fourth-quarter 2023.
MIAMI — A joint venture between Miami-based Integra Investments and nonprofit Elderly Housing Development & Operations Corp. (EHDOC) has completed Mosaico, a $58 million affordable housing community in Miami. The 13-story property will span 271 apartments reserved for households with citizens aged 62 years and older. Located in Miami’s Allapattah neighborhood, Mosaico features 179 one-bedroom units and 92 studios and townhomes. CC Hodgson Architectural Group designed the project. Integra Investments and EHDOC worked alongside HUD, the Housing Finance Authority of Miami-Dade County, City of Miami and Miami-Dade Public Housing & …
ORLANDO, Fla. — Wendover Housing Partners and the government of Orange County, Florida, have opened Hawthorne Park, an affordable seniors housing community in the Pine Hills neighborhood of Orlando. Hawthorne Park replaces a portion of an underutilized shopping center. The 120-unit community is designed for residents 55 and older meeting income requirements. According to the National Low Income Housing Coalition (NLIHC) 2022 GAP report, the Orlando metro area only has 18 affordable and available homes per 100 extremely low-income renters. A recent study conducted at the request of the Orange …
PORT ORANGE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of a 54-unit memory care community in Port Orange, a coastal city in Central Florida. The seller was a private REIT looking to exit an operational outlier from a previous portfolio. The buyer is a growing regional owner-operator expanding its presence in Florida. The price was not disclosed. Bradley Clousing and Daniel Geraghty handled the transaction for SLIB.
VENICE, Fla. — Convivial Life Inc. has acquired Jacaranda Trace, a seniors housing community featuring 240 independent living and 55 assisted living/memory care units in Venice. The seller was Venice Florida Senior Holdings LLC. The price was not disclosed. As part of the acquisition, Convivial also purchased an 85,000-square-foot clubhouse featuring a fitness center; heated outdoor pool and hot tub; on-site doctor’s clinic; multiple dining venues; billiards and activity rooms; woodworking shop; and library. Convivial is already working on expansion plans at the 33-acre community. LifeStar Living arranged the transaction …
