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Active AdultDevelopmentFloridaNews

United Group Starts Construction of $64.5M Active Adult Community in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — The United Group of Cos. has started vertical construction on The Alloro at University Groves, an active adult community in Sarasota. The community will feature 183 one- and two-bedroom apartments, including seven two-bedroom penthouse suites in two residential buildings above covered parking. Units will range from 708 square feet to 2,228 square feet. The property will also boast a 15,210 square foot clubhouse. Development costs are estimated at $64.5 million. Project partners include Current Builders and Trez Capital. Adam Horowitz of Cooper Horowitz LLC out of New …

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Assisted LivingFinanceFloridaNewsOklahoma

Ziegler Arranges $37.8M in Bridge Financing for Columbia Pacific Advisors

by Jeff Shaw

LAKE WORTH, Fla., and TULSA, Okla. — Ziegler has arranged a total of $37.8 million in bridge financing for Columbia Pacific Advisors (CPA), a Seattle-based investment firm. The two loans will refinance existing debt on two of the borrower’s seniors housing properties, The Landing at Lake Worth in Lake Worth and The Linden at Stonehaven Square in Tulsa. Each community offers assisted living and memory care services and consists of 134 total units. CPA developed and opened the Lake Worth Community in late 2018 and opened the Tulsa community in …

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DevelopmentFloridaNews

Wickshire Senior Living Opens 293-Unit Community in Fort Lauderdale

by Jeff Shaw

FORT LAUDERDALE, Fla. — Tennessee-based Wickshire Senior Living has opened a new location in Fort Lauderdale, approximately 30 miles north of downtown Miami. The 293-unit community is centrally located to retail, restaurants, major highways and the Fort Lauderdale Executive Airport. The type of care was not disclosed. Wickshire partners with local schools, preschool to college, to engage residents, associates, families and the greater community with lifelong learning opportunities, mentoring and intergenerational activities.

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AcquisitionsAssisted LivingFloridaNews

SLIB Arranges Sale of 64-Unit Canopy on Berryhill in Pace, Florida

by Jeff Shaw

PACE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Canopy on Berryhill, a seniors housing community in the Pensacola suburb of Pace. The community offers assisted living and memory care and consists of 64 units and 80 beds. The property opened in late December 2019. The first resident move-ins occurred in late December 2019 and early January 2020. Despite the challenges of COVID-19, the property achieved 95 percent occupancy in less than a year. A partnership led by Florida-based developer Rimrock Cos. sold the asset. The buyer …

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DevelopmentFloridaNews

Belmont Village, Baptist Health Break Ground on 232-Unit Community in Coral Gables, Florida

by Jeff Shaw

CORAL GABLES, Fla. — Belmont Village Senior Living and Baptist Health South Florida have broken ground on Belmont Village Coral Gables, a 232-unit seniors housing community in the Miami suburb of Coral Gables. The 10-story property will total 350,000 square feet, including 18,388 square feet of ground-floor retail and commercial space. The community will offer independent living, assisted living and memory care services. A health and wellness center on the ground floor, Healthy Living by Baptist Health, will be open to both residents and area seniors. This is Belmont Village’s …

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DevelopmentFloridaMassachusettsNews

Anthology Plans Three Communities in Florida, Massachusetts

by Jeff Shaw

DENVER — Anthology Senior Living, a senior living owner, developer and operator based in Denver, has partnered with Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets, and Peninsula Investments Group, a private equity firm, to develop three new senior living communities in Boynton Beach, Florida; Millis, Massachusetts; and Natick, Massachusetts that include a total of 321 units. Anthology of Boynton Beach, located on 5.3 acres in Boynton Beach, will offer 130 apartments with assisted living and memory care options. Anthology of Millis, situated …

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DevelopmentFloridaNews

Acts Begins $13M Expansion at Indian River Estates in Vero Beach, Florida

by Jeff Shaw

VERO BEACH, Fla. — Acts Retirement-Life Communities has started the $13 million expansion at Indian River Estates, a 100-acre seniors housing community in Vero Beach. The project will add 16 new units to the community, with most already pre-leased. Proctor Construction is the general contractor for the new units, which range from 2,662 to 2,873 square feet. The project is scheduled for completion in 2022.

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Affordable HousingDevelopmentFloridaNews

Catholic Health Services Breaks Ground on 113-Unit Casa Sant’Angelo Affordable Community in Miramar, Florida

by Jeff Shaw

MIRAMAR, Fla. — Catholic Health Services (CHS) and Atlantic Pacific Communities have broken ground on Casa Sant’Angelo, an affordable seniors housing community in the Miami suburb of Miramar. The mid-rise building offers 113 one- and two-bedroom units. Units are reserved for residents age 62 or older who earn between 30 percent and 80 percent of area median income. Funding partners include Broward County, First Housing Development Corp., Florida Housing Finance Corp. and Wells Fargo. The project is the first to use a new Miramar city code that provides impact fee …

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AcquisitionsFloridaNewsSkilled Nursing

SLIB Negotiates Sale of 120-Bed Skilled Nursing Facility in Lakeland, Florida

by Jeff Shaw

LAKELAND, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 120-bed skilled nursing facility in Lakeland, located between Tampa and Orlando. The asset was de-licensed by the state in 2017 but was allowed to re-open in early 2020 to accommodate COVID residents. The operator was provided a new license and the seller, a publicly traded REIT, elected to divest of the asset as it was nearly vacant after the initial COVID wave subsided. SLIB represented the buyer, Mainstay Senior Living, which bought the adjacent assisted living …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $80M Financing for Mayflower Retirement Center Expansion in Winter Park, Florida

by Jeff Shaw

WINTER PARK, Fla. — Ziegler has arranged $80 million in bond financing for an expansion project at Mayflower Retirement Center, a continuing care retirement community in Winter Park, a suburb of Orlando. The community opened in 1989 is situated on approximately 37 acres and currently consists of 220 independent living apartments and 28 villas; 31 private assisted living units with 15 used for memory support services; 60 nursing beds; and associated common areas. The borrower is pursuing a two-phase repositioning of its campus. Phase I was financed in November of …

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