ORANGE CITY, Fla. — ConcordRENTS has scheduled a late summer grand opening for Parc Hill Senior Living Apartments, a $15 million affordable seniors housing community in Orange City. Located approximately 30 miles north of Orlando, Parc City features 88 apartments for those making between 40 percent and 80 percent of the area median income.. Floor plans at the four-story building include one-bedroom, two-bedroom and two-bedroom-with-den options. Funding for Parc Hill Senior Living comes from $7.5 million in tax-exempt bonds issued by the Housing Finance Authority of Volusia County, $5.78 million …
Florida
ST. PETERSBURG, Fla. — Colliers International has arranged the sale of Loving Care of Saint Petersburg in the Tampa suburb of St. Petersburg. The property features 120 beds across 60 units. The assisted living facility has a limited mental health specialty license. Best Care Senior Living at St. Pete acquired the property from Loving Care of St Petersburg for an undisclosed price. The community was 80 percent occupied at the time of sale. Kenneth and Damien Carriero of Colliers arranged the transaction.
TRINITY, Florida — Cushman & Wakefield’s Tampa-based Senior Housing Team has arranged the sale of The Watermark at Trinity in the Tampa suburb of Trinity. Kayne Anderson Real Estate acquired the community for an undisclosed price. The operator, Watermark Retirement Communities, will continue to manage the property. The five-story community features 117 units of independent living and was recently completed. The property is adjacent to a 97-unit assisted living and memory care building constructed by the same development team in 2016. The Cushman & Wakefield team led by Allen McMurtry …
SUNRISE, Fla. — Fairstead has acquired Federation Sunrise Apartments, a 123-unit Section 8 housing development for the elderly in Sunrise, just west of Fort Lauderdale. The company paid $29.5 million for the property and has planned a multimillion dollar rehabilitation of the entire complex. The seller was not disclosed. The acquisition was financed through the issuance of federal Low-Income Housing Tax Credits and tax-exempt bonds from the Housing Finance Authority of Broward County, Florida.
CORAL GABLES, Fla. — Belmont Village Senior Living and Baptist Health South Florida have unveiled plans for Belmont Village Coral Gables, a mixed-use seniors housing community in Coral Gables, just southwest of downtown Miami. The Coral Gables City Commission approved the project unanimously, and groundbreaking is scheduled for this fall. The 10-story community will offer 232 units of independent living, assisted living and memory care, along with 18,388 square feet of ground-floor retail and commercial space. “As strategic and capital partners with Baptist Health South Florida, our joint venture was …
CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has arranged the sale of six seniors housing communities in three states. The seller, Invesque, was seeking an exit from its joint venture portfolio of Royal Senior Care properties. One community in Florida was sold to a third-party buyer, while a Georgia community was sold to Royal Senior Care. The remaining four communities, all located in South Carolina, went to an existing portfolio partner of Royal Senior Care with a strong presence in the state. The prices and specific …
WINTER PARK, Fla. — Watercrest Senior Living Group and Titan Development Real Estate Fund I have opened the doors on Watercrest Winter Park Assisted Living and Memory Care. The 107-unit, resort-style senior living community is located in Winter Park, a northern suburb of Orlando. Watercrest Winter Park features 75 assisted living and 32 memory care apartments. This is the second senior living development partnership between Watercrest and Titan Development. Their first project, Watercrest Columbia Assisted Living and Memory Care, opened last fall in Columbia, South Carolina. Titan Development Real Estate …
FLORIDA — Berkadia’s Seniors Housing & Healthcare Group has provided $5.1 million in financing for a 165-bed skilled nursing facility in Florida. The facility was constructed in 2010 and offers a mix of skilled nursing and assisted living. “HUD financing enabled our client to take advantage of this value-add opportunity and expand the property,” said Ed Williams, senior director with Berkadia. Williams arranged the HUD 241(a) supplemental loan for an Indiana-based borrower. The loan proceeds, representing 90 percent of project cost, will be used for construction of a new skilled …
TAMPA, Fla. — Private equity firm Twin Light Capital has acquired Hudson Manor Assisted Living, located in the Davis Islands neighborhood of Tampa. Hudson Manor is the only senior living property in Davis Islands, and one of two properties in the island community listed on the National Register of Historic Places. The seller and price were not disclosed. Miami architect Martin Hampton originally designed the property in 1926 as the Palmerin Hotel. The property was converted into seniors housing in 2004 and extensively renovated from 2016 to 2018. “Hudson Manor …
AVENTURA, Fla. — Rieber Developments has broken ground on 12|12 Aventura, a 10-story mixed-use project featuring medical office, luxury senior residences and a food hall. The property is situated in Aventura, approximately 20 miles north of Miami. Arquitectonica designed the development, which will include a 30,000-square-foot gourmet marketplace and food hall, 25,000 square feet of office space and a 160-unit senior living component with a structured parking garage. The roof will feature gardens and micro-parks. Along with its sister project Ivory 214, the development will serve as the epicenter of …