ST. PETERSBURG, Fla. — Birmingham, Alabama-based operator Atlas Senior Living has acquired both the real estate and operations of an assisted living and memory care community in St. Petersburg. The community will be the sixth Atlas property in Florida and the first in the St. Petersburg area. Previously named Bloom at St. Petersburg, the community will be rebranded and renamed The Goldton at St. Petersburg. Further details on the transaction were not disclosed.
DADELAND, Fla. — Sunset Point ALF, an affiliate of Miami-based real estate development firm CIP Group, and LV Development, an affiliate of Miami-based Linkvest Capital, have formed a joint venture to develop a 40,000-square-foot, 120-bed assisted living facility in an unincorporated area near Dadeland. The partners acquired the vacant site for $3.7 million from the Stupp Family Partnership. The developers are expected to break ground on the project in the first quarter of 2022 CIP Group and Linkvest Capital, through its LV Lending affiliate, are also developing Miami Springs Town …
SARASOTA, Fla. — The United Group of Companies has received a $48 million construction loan from Trez Capital, with the funds used to build The Alloro at University Groves. Located in the coastal Tampa suburb of Sarasota, the community will feature 183 units of what the developer calls “independent living lite,” a bridge between active adult and independent living. Units are restricted to those age 55 and older. Units will vary in size between 708 and 2,232 square feet. A 15,210-square-foot clubhouse will serve as the center of the community. …
EAST LAKE, Fla. — Watercrest Senior Living Group has hired Alexander Powell as executive director of Market Street Memory Care Residence East Lake. Located in the Tampa suburb of East Lake, the community is a 64-unit memory care community. Powell has served as a sales director and executive director in The Villages in Central Florida. With an MBA from Saint Leo University, Powell had plans to pursue a legal career. But, as the eldest son of a pastor and nurse, he felt a passion for community service. After caring for …
PANAMA CITY BEACH, Fla. — A joint venture between The St. Joe Company, Watermark Retirement Communities and BRW Origins LLC has released plans for Watersound Fountains, a 148-unit independent living community in Panama City Beach. The four-story property will be part of the Watersound Origins development in the waterfront vacation destination located on Florida’s panhandle. The planned community is currently under development adjacent to Watersound Town Center and a future Publix supermarket. Watermark will be the operator. “This extraordinary location will offer our residents easy access to natural coastal beauty, …
PONTE VEDRA BEACH, Fla. — Ziegler has arranged $115.6 million in bond financing for Vicar’s Landing, a continuing care retirement community in Ponte Vedra Beach, approximately 20 miles southeast of Jacksonville. Vicar’s Landing was developed in 1983. It sits on a 24.3-acre site within Sawgrass, a 4,800-acre private resort and residential community. The larger master-planned Sawgrass community features four adjacent golf clubs, TPC Sawgrass, the Sawgrass Marriott Resort, a shopping center and other residential and recreational amenities. Vicar’s Landing features 227 independent living units, 38 assisted living apartments and 60 …
MARGATE, Fla. — Alta Senior Living has acquired Waterside Landing, a 175-unit independent and assisted living community in Margate, approximately 40 miles north of Miami. Alta will both own and operate the property. The seller and price were not disclosed. Over the next 12 months, Alta Senior Living plans to invest another $6.5 million in renovation capital to further enhance the community and convert 22 units on the first floor from assisted living to secured memory care. “Waterside Landing is exactly the type of acquisition opportunity we’re seeking right now,” …
MIAMI — Swerdlow Group has broken ground on Sawyer’s Walk, a 1.4 million-square-foot mixed-use development in Miami’s Overtown neighborhood that will include 250,000 square feet of retail space below 578 apartments designated for low-income seniors. Swerdlow Group is collaborating with the Southeast Overtown/Park West Community Redevelopment Agency (CRA) on the $300 million project. Swerdlow Group and its partners, Delray Beach, Fla.-based SJM Partners and Miami-based Alben Duffie, acquired the 3.4-acre property at 249 NW 6th St. from the Community Redevelopment Agency for $10 million. Construction is scheduled for completion in …
MIAMI — CBRE has arranged $78 million in financing for an upscale seniors housing community near the University of Miami. Aron Will, Austin Sacco and Adam Mincberg of CBRE Senior Housing arranged the three-year, floating-rate loan with full-term interest-only payments. A debt fund provided the capital, which refinances existing debt. Further details on the property were not disclosed.
ROCKLEDGE, Fla. — Validus Senior Living has opened the doors on Alura by Inspired Living, an independent living, assisted living and memory care community in Rockledge, a coastal city east of Orlando. Situated on 11.3 acres, the 113,935-square-foot building will feature a total of 127 one- and two-bedroom apartments. Alura by Inspired Living is part of an ongoing relationship between Tampa-based operator Validus and developer Premium Edge LLC. “Inspired Living” is the upscale brand of Validus.
