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DevelopmentFloridaNews

Lifespace Communities Breaks Ground on $49M Expansion Project at Harbour’s Edge in Delray Beach, Florida

by Hayden Spiess

DELRAY BEACH Fla. — Lifespace Communities has broken ground on a $49 million expansion project at Harbour’s Edge, a senior living community in Delray Beach.  Upon completion, the expansion will add 24 assisted living apartments and 16 memory care apartments to the property. Planned amenities include a garden with a walking path, a third-floor terrace for assisted living residents, a spa, bar and wellness gym, as well as dedicated dining rooms, kitchens and activity spaces.  A groundbreaking event is scheduled for Aug. 20.  Nonprofit Lifespace Communities owns and operates 15 communities …

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Assisted LivingDevelopmentFloridaMemory CareNews

Chancey Completes Development of 86-Unit Community in Marco Island, Florida

by Hayden Spiess

MARCO ISLAND, Fla. — Chancey Development, in partnership with BRW Development and Watermark Retirement Communities, has delivered The Watermark at Marco Island, a new, 86-unit community in Marco Island.  This marks the first senior living community on the island.  Totaling 103,000 square feet, the property features 66 assisted living and 20 memory care units. Chancey Architecture & Design designed the community, with Wichman Construction serving as the general contractor.  Chancey also partnered with the City of Marco Island to create a public park adjacent to the property, which is located with …

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AcquisitionsFloridaIndependent LivingNews

Town Lane Acquires Two Independent Living Communities in Florida

by Hayden Spiess

NAPLES and SARASOTA, Fla. — Real estate investment management firm Town Lane has acquired two independent living communities located in Florida. Together the properties total 373 units.  Located in Naples, Discovery Village Naples was opened in 2020. Discovery Village Sarasota Bay in Sarasota was opened in 2022. Both communities are located on campuses that also house assisted living and memory care facilities.  Discovery Senior Living will continue to lease and operate the communities.  Amenities at the properties include outdoor courtyards and pools, fitness and rehab spaces, theaters and beauty salons.  “The …

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AcquisitionsAssisted LivingFloridaIndependent LivingIowaMemory CareNews

Chicago Pacific Founders Acquires Communities in Florida, Iowa

by Hayden Spiess

HERNANDO, Fla. and CORALVILLE, Iowa — Chicago Pacific Founders (CPF) has acquired two senior living communities, The Summit of Citrus Hills and The Summit of Coralville.  Located in Hernando, Florida, and Coralville, Iowa, respectively, The Summit of Citrus Hills and The Summit of Coralville feature independent living, assisted living and memory care units.  Previously known as Grand Living at Citrus Hills and Grand Living at Bridgewater, the communities will now be operated by Grace Management Inc., a subsidiary of CPF.  According to CPF, the acquisitions align with the company’s strategy of …

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Mount Hermon Apartments
Affordable HousingDevelopmentFloridaNews

HTG, Mount Hermon AME Church Open $43.5M Affordable Seniors Housing Community in Fort Lauderdale, Florida

by Hayden Spiess

FORT LAUDERDALE, Fla. — Housing Trust Group (HTG) and Mount Hermon African Methodist Episcopal Church have opened Mount Hermon Apartments, a new affordable seniors housing community in Fort Lauderdale. Development costs totaled $43.5 million.  Monthly rental rates at the community, which features one- and two-bedroom apartments, range from $433 to $1,422 per month. Units are reserved for seniors earning at or below 25 and 60 percent of the area median income. According to Apartments.com, the average rental rate for a one-bedroom apartment in Fort Lauderdale is $2,222.  Amenities at the property …

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Company NewsFinanceFloridaNewsPeople

Locust Point Capital Closes $668M Fund, Appoints New President

by Hayden Spiess

MIAMI — Investment firm Locust Point Capital, which operates exclusively in the seniors housing and care sector, has closed its Locust Point Private Credit Fund III with $668 million in total capital commitments.  This marks a 56 percent increase over raise of the firm’s predecessor vehicle, which closed at $428 million.  According to Locust Point, Fund III will continue to execute the firm’s core strategy, which includes providing structured credit solutions to owner-operators of seniors housing communities.  “Having invested in the seniors housing industry for more than three decades, I believe …

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Ekos Cadenza
Affordable HousingDevelopmentFloridaNews

McDowell Housing Partners Completes Construction of 160-Unit Affordable Housing Community in Florida

by Hayden Spiess

NAPLES, Fla. — McDowell Housing Partners (MHP) has completed the construction of Ekos Cadenza, a 160-unit affordable seniors housing community in Naples. This marks MHP’s second phase of development at the site. The first phase, which also comprises 160 units of affordable housing for seniors, opened in October 2024.  Totaling five stories, Ekos Cadenza features studio, one- and two-bedroom residences ranging from 527 to 1,007 square feet. Amenities at the community include a swimming pool, wet bar, fitness center, game room, media center, pickleball court and clubhouse.  The Healthcare Network of …

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FinanceFloridaNewsSkilled Nursing

MonticelloAM Provides $108.8M Financing for Skilled Nursing Portfolio in Florida

by Hayden Spiess

NEW YORK CITY — New York City-based MonticelloAM has provided roughly $108.8 million in financing for a portfolio of skilled nursing facilities located in southern Florida.  The portfolio totals 500 beds across three properties. The undisclosed borrower plans to use the financing, which comprises a $105.5 million floating-rate senior bridge loan and $3.3 million working capital facility, to refinance existing debt and cover day-to-day operational needs. 

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Assisted LivingDevelopmentFinanceFloridaIndependent LivingMemory CareNews

JLL, HJ Sims Secure $134.3M Tax-Exempt Bond Financing for Seniors Housing Development in Orlando

by Hayden Spiess

ORLANDO, Fla. — JLL and HJ Sims have arranged $134.3 million in tax-exempt bond financing for a seniors housing development currently underway in Orlando.  Dubbed Millenia Moments Orlando, the community will feature 151 independent living, 78 assisted living and 32 memory care units. Trinity Community Development Foundation, a nonprofit formed by Trinity Broadcasting Network (TBN), is the developer and borrower.  Completion of the facility, which will total 316,900 square feet, is scheduled for 2027. The community will feature floorplans in one- and two-bedroom layouts. Memory care residences will include 26 private …

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Affordable HousingDevelopmentFloridaNews

National CORE to Develop 144-Unit Affordable Housing Community in Fort Myers, Florida

by Hayden Spiess

FORT MYERS, Fla. — National CORE has announced plans to develop Oak Park Senior Living, an affordable seniors housing project in Fort Myers.  Upon completion, the four-story community will feature 144 apartment units for residents age 62 and older earning between 30 and 65 percent of the area median income. Residences will include 124 one-bedroom apartments and 20 two-bedroom apartments. Amenities at the property will include a community room, cybercafe, swimming pool, fitness room, community garden and pickleball court.  Residents will have access to computer training, daily activities and free assistance …

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