Tuesday, October 22, 2024
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The Goldton at Venice in Nokomis, Florida
Assisted LivingFloridaIndependent LivingMemory CareNews

Upscale Senior Living Community Near Sarasota, Florida, Shelters 200 Hurricane Evacuees

by Channing Hamilton

NOKOMIS, Fla. — The Goldton at Venice — a seniors housing community located in Nokomis, roughly 20 miles south of Sarasota — recently sheltered 200 individuals during Hurricane Milton. Located in a non-flood zone approximately two miles from Sarasota Memorial Hospital, the community hosted staff, family members and loved ones of residents and evacuees from Venice Island and flood zones. Hurricane Milton made landfall Wednesday, Oct. 9, with most of the guests departing the community by the following Friday, Oct. 11. Totaling 167 apartments, The Goldton at Venice offers 114 independent …

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The Manhattan-St. Petersburg in St. Petersburg, Florida
Assisted LivingCCRCFinanceFloridaIndependent LivingNews

Ziegler Arranges $29.4M in Bond Financing for Planned Continuing Care Retirement Community in St. Petersburg, Florida

by Channing Hamilton

ST. PETERSBURG, Fla — Ziegler has arranged $29.4 million in bond financing for Convivial St. Petersburg LLC, which plans to develop a continuing care retirement community (CCRC) on a 5.2-acre site in St. Petersburg.  The Series 2024 Revenue Bond Anticipation Notes are comprised of $23.4 million of tax-exempt Series 2024A Notes sold publicly to institutional investors, and $6 million of subordinate tax-exempt and taxable notes purchased by an affiliate of the developer and manager of the project. The borrower will use the proceeds of the revenue bond anticipation notes to fund …

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FinanceFloridaNews

Aztec Group Arranges $54.5M Bridge Loan for Alloro at University Groves in Sarasota, Florida

by Channing Hamilton

SARASOTA, FLA. — Aztec Group has arranged a $54.5 million bridge loan for Alloro at University Groves, a seniors housing community located in Sarasota. An affiliate of United Group of Cos. was the borrower. Mortgage REIT provided the debt. Developed in 2023, Alloro at University Groves features 183 units for residents aged 55 and older. Amenities at the community include a 12,587-square-foot clubhouse, fitness center, yoga room, salon, movie theater, pickleball and bocce courts, a spa, community garden, dog park and onsite dining facilities. 

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AcquisitionsAssisted LivingFinanceFloridaIndependent LivingMemory CareNews

JLL Capital Markets Closes Sale, Financing of Seniors Housing Community in South Florida

by Channing Hamilton

LAKE WORTH, Fla. — JLL Capital Markets has brokered the sale of Mariposa, a 313-unit seniors housing community in Lake Worth, located about 17 miles south of West Palm Beach and 20 miles north of Boca Raton. The real services firm also secured financing for the buyer. The seller and sales price were not disclosed, but the South Florida Business Journal reports that the facility sold for nearly $63.8 million. The seller was Ventas, the Chicago-based healthcare real estate investment trust. JLL represented the seller, and procured the buyer, Focus Healthcare Partners. Additionally, JLL …

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AcquisitionsAssisted LivingFloridaNews

Berkadia Brokers Sale of 80-Unit Community in Palm Beach County, Florida

by Jeff Shaw

PALM BEACH COUNTY, Fla. — Berkadia has arranged the sale of an 80-unit assisted living and memory care community in Palm Beach County.  The community sold to a Central Florida-based owner-operator looking to expand its operational footprint into South Florida. The price was not disclosed. The community is located in a densely populated Palm Beach County submarket less than a half mile from over 750,000 square feet of retail space occupied by tenants including Walmart Neighborhood Market, Marshall’s, and Phoenix Theaters.  Brooks Minford of Berkadia Seniors Housing & Healthcare led …

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AcquisitionsAssisted LivingFloridaNews

Blueprint Negotiates Sale of 60-Unit Community in Central Florida

by Jeff Shaw

CENTRAL FLORIDA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 60-unit assisted living community in Central Florida. A national real estate investment platform acquired the asset and brough in a regional operator to take over management. Further details on the transaction were not disclosed. Blueprint marketed the opportunity as part of a portfolio encompassing 16 senior communities located throughout the Southeast, Midwest and Mid-Atlantic. The subject community was positioned as a value-add offering, with a history of strong performance and significant upside potential, particularly due to …

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CCRCFloridaNewsPeople

Lifespace Hires Patrick Noonan as Executive Director of Harbour’s Edge in Delray Beach, Florida

by Jeff Shaw

DELRAY BEACH, Fla. — Lifespace Communities has hired Patrick Noonan as executive director at Harbour’s Edge, a continuing care retirement community in Delray Beach.  Noonan has over 30 years’ experience leading senior living operations and managing healthcare administration, most recently serving as executive director at The Glenview at Pelican Bay in Naples.  Noonan earned his bachelor’s degree in business administration from Fontbonne University in St. Louis. He is also a Licensed Nursing Home Administrator in Florida and a Licensed Florida Community Association Manager.

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AcquisitionsAssisted LivingFloridaNewsSouth Carolina

Sonida Acquires Eight-Asset Portfolio in Florida, South Carolina for $103M

by Jeff Shaw

FLORIDA and SOUTH CAROLINA — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner, operator and investor, has agreed to acquire eight senior living communities in northern Florida and South Carolina. Totaling 555 units of assisted living and memory care, Sonida will pay $103 million for the portfolio. The seller was not disclosed. “With this planned acquisition, Sonida will further broaden its high-quality and regionally focused real estate portfolio with newer vintage communities in mid-to-large metropolitan areas with favorable growth prospects,” says Brandon Ribar, president and CEO. The eight communities …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $150M Bond Financing for Shell Point Retirement Community in Fort Myers, Florida

by Jeff Shaw

FORT MYERS, Fla. — Ziegler has arranged $150 million in bond financing for Shell Point Retirement Community, a nonprofit, faith-based continuing care retirement community (CCRC) in Fort Myers. Shell Point currently consists of 1,334 independent living units, 356 assisted living units and 180 skilled nursing beds located in seven distinctive neighborhoods: The Island, Palm Acres, The Woodlands, Eagles Preserve, The Enclave, The Estuary and Waterside. The property features a wide array of home styles, resort amenities and services.  The community is located on 700 acres along the Caloosahatchee River. Shell …

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Affordable HousingDevelopmentFloridaNews

SG Holdings Opens 578-Unit Affordable Community at Sawyer’s Walk in Miami

by Jeff Shaw

MIAMI — SG Holdings, a partnership between Swerdlow Group, SJM Partners and Alben Duffie, has completed the housing component of Sawyer’s Walk, marking the delivery of the largest affordable senior living community in the US within the last decade, according to the developer.  The mixed-use development is underway in the Overtown neighborhood of Miami. Upon full build-out it will total 1.5 million square feet, including the 578 residential units completed that will be home to low-income seniors, 175,000 square feet for credit retailers, a 25,000-square-foot public plaza, and 130,000 square …

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