ORMOND BEACH, Fla. — Capital Square 1031 has acquired The Falls, a 599-homesite manufactured housing community for seniors in Ormond Beach, just north of Daytona on Florida’s Atlantic Coast. “This is Capital Square’s fifth and largest manufactured housing community acquisition to date, closing out a record-breaking year despite the COVID pandemic,” says Louis Rogers, founder and chief executive officer. “Capital Square is bullish on manufactured housing communities in Florida, which are among the most desirable assets in the nation due to high occupancy, increasing rental rates, low operating costs and …
Florida
WAUCHULA, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Hardee Manor Healthcare and Rehabilitation Center is a 79-bed skilled nursing facility, located southeast of Tampa in Wauchula. As the operator’s only facility in the state, the REIT landlord elected to exit through a strategic sale to a pre-identified buyer looking to expand its regional footprint in Central Florida.
DELRAY BEACH, Fla. — Tuscan Gardens Senior Living proudly announces the opening of Tuscan Gardens of Delray Beach. The property offers assisted living, “enhanced assisted living” and memory care. The number of units was not disclosed. The luxury community is located within 15 miles of multiple hospitals, including those for rehabilitation and short- and long-term acute care.
FORT MYERS, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Fort Myers, a 136-unit independent living community in Fort Myers. The property was previously known as Grand Villa of Fort Myers. The name change reflects the change in ownership, as well as the new operator, Grace Management. CPF also plans to implement improvements at the property. The Summit of Fort Myers is located in the Cypress Lake community, close to shopping areas, restaurants, medical facilities, and indoor …
Capital Square 1031 Acquires Whispering Pines Manufactured Housing Community in Kissimmee, Florida
by Jeff Shaw
KISSIMMEE, Fla. — Capital Square 1031 has acquired Whispering Pines, a 301-site manufactured housing community for seniors in the Orlando suburb of Kissimmee. “This is Capital Square’s fourth acquisition this year of age-restricted manufactured housing communities in coastal Florida markets,” says Louis Rogers, founder and chief executive officer. “Capital Square is bullish on manufactured housing in Florida due to exceptionally strong demand from retirees and very limited supply for affordable senior housing.” The community is situated on approximately 61 acres of land, is 99 percent occupied and has additional land …
PENSACOLA, FLA. — The Paces Foundation has opened Brownsville Manor, an affordable housing community for seniors in Pensacola. The property offers 88 one- and two-bedroom units and is over 80 percent leased. Brownsville Manor is the second affordable housing community that The Paces Foundation has built for seniors in Pensacola. The first, Fairfield Manor, was awarded a LEED Platinum certification and opened five years ago.
Ziegler Arranges $107.7M Financing for Cypress Cove at HealthPark Florida in Fort Myers
by Jeff Shaw
FORT MYERS, Fla. — Ziegler has arranged $107.7 million in bond financing for Cypress Cove at HealthPark Florida Inc. The proceeds of the bonds will be used to refinance outstanding debt, reimburse and fund certain capital expenditures, fund a debt service reserve fund and pay costs of issuance. Cypress Cove is a nonprofit continuing care retirement community (CCRC) in Fort Myers. The property features 333 independent living apartments, 44 independent living free-standing villas and common areas, 44 assisted living units, 44 memory care units and a skilled nursing facility containing …
TITUSVILLE, Fla. — Housing Trust Group (HTG) has completed construction of Luna Trails, a $19.6 million, 86-unit affordable housing development for seniors in Titusville, along Florida’s Space Coast region. Apartments are reserved for seniors ages 55 and older earning at or below 60 percent of area median income (AMI). Rents range from $346 per month for a one-bedroom apartment to $791 per month for a three-bedroom apartment. The property is currently 100 percent leased. “This is HTG’s first development in Brevard County and therefore marks an important milestone for our …
The Paces Foundation Opens Brownsville Manor Affordable Community in Pensacola, Florida
by Jeff Shaw
PENSACOLA, Fla. — The Paces Foundation has opened Brownsville Manor, an affordable housing community for seniors in Pensacola. The property features 88 one- and two-bedroom units and is over 80 percent leased. The units will benefit from state-of-the-art heating and cooling units, high-efficiency water heaters, as well as water-saving showers and plumbing fixtures. Brownsville Manor is the second affordable housing community that The Paces Foundation has built for seniors in Pensacola. The first, Fairfield Manor, was awarded a LEED Platinum certification and opened five years ago.
TAMPA, Fla. — Validus Senior Living Communities will be the new operator of five H-Bay Ministries-owned communities in Florida. The communities will operate under Tampa-based Validus’ Inspired Living brand, but will carry their existing banner of Superior Residence. The new communities are located in the Brandon, Clermont, Ocala, Lecanto and Niceville markets totaling 340 units, and focus on middle-market seniors.