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AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of Community in Lady Lake, Florida

by Jeff Shaw

LADY LAKE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living community in Lady Lake, immediately adjacent to retirement mecca The Villages. The seller is a Northeast-based real estate private equity fund that purchased this asset as part of an extensive portfolio in December 2021. This asset was an operational outlier from the rest of the portfolio. The buyer was a regional owner-operator looking to add to its existing operations throughout Florida. Brad Clousing, Daniel Geraghty and Ryan Saul led the transaction for SLIB. …

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Active AdultDevelopmentFloridaNews

FK Architecture Designs Three Active Adult Developments in Western Florida

by Jeff Shaw

VENICE, SOUTH NAPLES and WESLEY CHAPEL, Fla. — FK Architecture, a Fugleberg Koch Company, has completed design work on three resort-style active adult communities along Florida’s West Coast. The three sites designed by FK Architecture are Solea Wellen Park in Venice, Amberlin Wiregrass Ranch in Wesley Chapel and Amberlin South Naples in Collier County. Sparrow Partners is the developer. All three communities are four stories tall. Solea Wellen Park and Amberlin Wiregrass Ranch each offer 204 units in a mix of one- and two-bedroom units. Amberlin South Naples features 188 …

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Assisted LivingDevelopmentFloridaNews

Atlas, Rimrock Plan The Canopy at Beacon Woods in Hudson, Florida

by Jeff Shaw

HUDSON, Fla. — Atlas Senior Living and Rimrock Cos. have entered into a joint venture to build, own and operate The Canopy at Beacon Woods. The assisted living and memory care community will be located in Hudson, approximately 40 miles northwest of Tampa along the Gulf Coast. The property will feature 40 assisted living and 24 memory care units. Construction is scheduled for completion in July 2023.

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Affordable HousingDevelopmentFloridaNews

Housing Trust Group Completes $19M Oak Valley Affordable Community in Ocala, Florida

by Jeff Shaw

OCALA, Fla. — Housing Trust Group (HTG) has completed Oak Valley, a $19 million affordable housing community for seniors in Ocala, approximately 70 miles northwest of Orlando. The property features 96 one- and two-bedroom units for residents 62 and older who earn up to 40 percent and 60 percent of the local area median income. Rents range from $369 to $730 per month for income-qualifying residents. The property was 100 percent pre-leased. Oak Valley was developed in partnership with nonprofit AM Affordable Housing Inc., an organization founded by former Miami Heat …

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AcquisitionsFloridaNewsSkilled Nursing

ESI Negotiates Sale of 200-Bed Skilled Nursing Facility Near Orlando

by Jeff Shaw

VOLUSIA COUNTY, Fla. — Evans Senior Investments (ESI) has brokered the sale of a 200-bed skilled nursing community in Volusia County, located just northeast of Orlando. Built in 1960s, the community exhibited an older physical plant with all of the rooms at the community semi-private or three-bed wards. At the time of marketing, the community was 41 percent occupied, resulting in a net operating income loss. Prior to the COVID-19 pandemic, the community averaged 73 percent occupancy. ESI represented the seller, a regional owner-operator that sought to exit this community …

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AcquisitionsAssisted LivingFloridaNews

SLIB Arranges Sale of 89-Unit Vitality Lady Lake in Florida

by Jeff Shaw

LADY LAKE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Vitality Lady Lake, an 89-unit seniors housing community in Lady Lake, located northwest of Orlando adjacent to The Villages. The community features 69 assisted living and 20 memory care units on a nine-acre site, which features room for expansion. The seller is a Northeast-based real estate private equity fund that purchased this asset as part of a large portfolio in December 2021. This asset was an operational outlier from the rest of the portfolio. The buyer …

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AcquisitionsFinanceFloridaNews

Dwight Mortgage Trust Provides $27.3M Financing for Beachside Center for Rehabilitation and Healthcare in Florida

by Jeff Shaw

NEW SMYRNA BEACH, Fla. — Dwight Mortgage Trust, the mortgage REIT affiliate of Dwight Capital, has provided a $27.3 million bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare. The 239-bed skilled nursing facility is located in New Smyrna Beach, a coastal suburb of Orlando. The facility offers its residents short- and long-term care. The loan has a 30-month term. Its proceeds will be used towards capital expenditures and the acquisition. Josh Sturm originated this closing. The names of the buyer and seller were not disclosed.

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Assisted LivingDevelopmentFloridaNews

Providence One, ANF Group Break Ground on 117-Unit Community in Pembroke Pines, Florida

by Jeff Shaw

PEMBROKE PINES, Fla. — ANF Group Inc. and Providence One Partners have broken ground on Providence Living at Pembroke Pines, an assisted living and memory care community in the Miami suburb of Pembroke Pines. The two-story, 114,003-square-foot property is located on 3.2 acres near Pembroke Pines City Center.and will feature 117 units, totaling 121 beds. ANF will handle construction, while Providence One will be the operator upon completion. The project is scheduled to open in fourth-quarter 2023.

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Affordable HousingDevelopmentFloridaNews

Integra Investments, EHDOC Complete $58M Mosaico Affordable Community in Miami

by Jeff Shaw

MIAMI — A joint venture between Miami-based Integra Investments and nonprofit Elderly Housing Development & Operations Corp. (EHDOC) has completed Mosaico, a $58 million affordable housing community in Miami. The 13-story property will span 271 apartments reserved for households with citizens aged 62 years and older. Located in Miami’s Allapattah neighborhood, Mosaico features 179 one-bedroom units and 92 studios and townhomes. CC Hodgson Architectural Group designed the project. Integra Investments and EHDOC worked alongside HUD, the Housing Finance Authority of Miami-Dade County, City of Miami and Miami-Dade Public Housing & …

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Affordable HousingDevelopmentFloridaNews

Wendover Housing Partners Opens $27.6M Hawthorne Park Affordable Community in Orlando

by Jeff Shaw

ORLANDO, Fla. — Wendover Housing Partners and the government of Orange County, Florida, have opened Hawthorne Park, an affordable seniors housing community in the Pine Hills neighborhood of Orlando. Hawthorne Park replaces a portion of an underutilized shopping center. The 120-unit community is designed for residents 55 and older meeting income requirements. According to the National Low Income Housing Coalition (NLIHC) 2022 GAP report, the Orlando metro area only has 18 affordable and available homes per 100 extremely low-income renters. A recent study conducted at the request of the Orange …

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