Florida

BROOKSVILLE, LAKE PLACID and SPRING HILL, Fla. — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of three communities in Florida on behalf of a national REIT.  Florida-based TJM Properties Inc, a regional owner-operator, acquired two of the properties. The Grande is a 144-unit independent living, assisted living and memory care community in Brooksville, and Balmoral is a 125-unit assisted living and memory care community in Lake Placid.  An undisclosed, Florida-based buyer purchased the remaining property: Forest Oaks, an 80-unit assisted living and memory care …

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PALM BEACH, Fla. — Alta Senior Living has acquired Palm Beach Memory Care, a newly constructed 60-unit memory care community located in North Palm Beach.  The community opened with 20 percent of the units already pre-leased. It is strategically located near Alta Senior Living’s regional office that shares space with restaurant tenant, DeSano Pizza. Dan Baker with JLL arranged the sale. The seller and price were not disclosed.

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DELAND, Fla. — CareTrust REIT Inc. (NYSE: CTRE) has funded a $15.7 million mortgage loan on a two-asset, 115-bed skilled nursing portfolio in Florida.  The borrowers under the loan are affiliates of Elevation Group LLC, a Florida-based skilled nursing operator led by industry veterans Ken and Dan Funk. Elevation is an existing tenant of CareTrust. Proceeds of the loan were used to refinance Elevation’s existing loan on its Athens Post Acute facility, as well as to partially fund Elevation’s acquisition of Blue Lake Post Acute, both located in Deland, approximately …

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DEERFIELD BEACH, Fla. — Housing Trust Group (HTG) has started construction of Hillsboro Landing, a $41 million affordable seniors housing community in Deerfield Beach, approximately 45 miles north of Miami. The 75-unit community is a joint venture between HTG and the Broward County Housing Authority.  Apartments at Hillsboro Landing will be reserved for income-qualifying residents age 62 and older who earn at or below 22, 25 and 60 percent of the area median income (AMI). Monthly rents will range $374 to $1,225.  The project is scheduled for completion by October …

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BROOKSVILLE, Fla. — Wendover Housing Partners has started accepting applications for residents at Rochester Park, an affordable seniors housing community in Brooksville, approximately 45 miles north of Tampa. This Hernando County community, designed for residents age 55 and older, will expand Wendover’s footprint on the west coast of Florida. Rochester Park is an 84-unit affordable community with one- and two-bedroom units. Rent will start at $885 per month for one-bedroom units and $1,047 per month for two-bedroom units. “According to the National Low Income Housing Coalition 2023 Gap Report, there …

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ST. JOHNS, Fla. — Quality Senior Living (QSL) has started construction of The Blake at St. Johns, an assisted living and memory care community in St. Johns, a southern suburb of Jacksonville. The community, which QSL Management will operate, features 70 assisted living apartments and 48 memory care apartments. Development costs are estimated at $35 million. The two-story, 115,000-square-foot building is designed around two landscaped interior courtyards. Arrive Architecture Group designed the project. The Blake at St. Johns is part of a planned development that includes St. Thérése, an early-learning …

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SHALIMAR, Fla. — Victory Village is slated to receive $2 million from Florida’s Framework for Freedom Budget for fiscal year 2023-24. The funding will be used to purchase 80 acres of land from the U.S. Air Force, which will be used to develop a military senior living community with resources and services for wounded warriors and their caregivers. Victory Village will be located adjacent to Air Force Enlisted Village (AFEV). Plans for the community include multiple neighborhoods for 800 people to reside, a community center, a multi-denominational chapel, a fitness …

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DUNEDIN, Fla. — Acts Retirement-Life Communities Inc. and Mease Life, a nonprofit continuing care retirement community (CCRC) in the Tampa suburb of Dunedin, have agreed to affiliate. Under the agreement, Mease Life will become an Acts affiliate member and part of a network of CCRCs that Acts operates. Mease Life is home to approximately 350 residents and was founded in the early 1960s. The nine-story high rise community includes a mix of independent living, assisted living and skilled nursing residences, along with other specialty care services. The affiliation agreement is …

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FLORIDA — Blueprint Healthcare Real Estate Advisors has arranged the sale of seven skilled nursing facilities totaling 833 beds in Central and West Florida. AdventHealth, a faith-based, nonprofit health system with headquarters in Altamonte Springs, was the seller. The price was not disclosed. The Centers for Medicare & Medicaid Services (CMS) rated nearly all the properties as 4- and 5-star facilities. Nursing homes with 5 stars are considered to have much-above-average quality, and nursing homes with 1 star are considered to have quality much below average. Two flagship state-of-the-art centers …

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WINTER HAVEN and LAKELAND, Fla. — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of two communities in Florida. A national REIT sold the assets to a Florida-based owner-operator growing in the region. The price was not disclosed. The properties include Spring Haven, a 297-unit independent living, assisted living and memory care community in the Orlando suburb of Winter Haven, and Lake Morton Plaza, a 123-unit independent living and assisted living community in the Tampa suburb of Lakeland. Dave Kliewer and Jay Jordan led the …

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