FLORIDA — VIUM Capital has provided $7.7 million in bridge-to-HUD financing for 428 Healthcare. The funds refinance existing debt on a 50-bed assisted living community in Florida. The borrower acquired the property in 2019 and was looking for a cash-out refinancing. Further details were not disclosed.
VALRICO, Fla. — Experience Senior Living (ESL) has unveiled plans for The Gallery at South Tampa, a seniors housing community in Valrico, an eastern suburb of Tampa. Located on a 17-acre plot, ESL plans to break ground on the development before the end of the year. The 240,613-square-foot community will feature 202 homes including 30 independent living cottages, 89 independent living apartment homes, 45 assisted living apartment homes and 38 memory care suites. The Gallery at South Tampa will be ESL’s seventh community in Florida and fourth on the Gulf …
FORT LAUDERDALE, Fla. — Allegro Senior Living has unveiled plans for Allegro Fort Lauderdale, its 12th community in the state. The eight-story, 280,000-square-foot property will feature 188 units with views of the adjacent waterway and Atlantic Ocean. The community will offer independent living, assisted living and memory care services, though the number of units of each was not disclosed. Alliance Residential Co. is leading the development. Other partners include MSA Architects and FLYNN Engineering. Allegro Senior Living will assume management and oversight of the community upon completion. Allegro plans to …
CHICAGO — Senior Living Investment Brokerage (SLIB), a Chicago-based brokerage firm, has arranged the sale of five communities totaling 440 units across two separate transactions. In the first acquisition, SLIB arranged the sale of four communities in Kokomo, Ind.; Pueblo, Colo.; Stillwater, Okla.; and Cheyenne, Wyo. The assets total 351 units and the portfolio averages 87 percent occupancy. The seller was a long-standing provider of seniors housing with a portfolio of over 30 communities. The buyer was a regional private equity group focused on the seniors housing space that aligned …
CHAMPIONSGATE, Fla. — JLL Capital Markets has arranged $37.8 million in financing for The Glades at ChampionsGate, a luxury 223-unit senior living community in the Orlando suburb of ChampionsGate. JLL worked on behalf of the borrower, Fortress Investment Group, to secure the four-year, floating-rate, non-recourse loan through MidCap Financial Services. The Glades at ChampionsGate offers independent living, assisted living and memory care units. The property consists of one- and two-bedroom units ranging from 627 to 1,060 square feet. The property is located on 11.6 acres within the 1,500-acre master-planned community …
BOYNTON BEACH, Fla. — Nonprofit developer Green Cay Life Plan Village Inc. has unveiled plans for a $250 million continuing care retirement community (CCRC) in Boynton Beach along the Atlantic Coast in South Florida. Green Cay has purchased the 15-acre site with plans for 170 independent living, 16 assisted living and 16 memory care units in a 340,000-square-foot building. The property is adjacent to Green Cay Nature Center. Independent living residences will range from one to three bedrooms; assisted living apartments will include studio to two-bedroom options; and memory care …
FORT MYERS, Fla. — SRS Real Estate Partners has brokered the sale of a 75-bed skilled nursing facility located at 13960 Plantation Road in Fort Myers. An entity doing business as Plantation Medical Center SNU LLC sold the property to a private 1031 investment firm based in New York City for $46.7 million. Patrick Nutt and William Wamble of SRS’ National Net Lease Group represented the seller in the off-market transaction, and Jason Maier of Stan Johnson Co. represented the buyer. Built in 2018, the 57,650-square-foot property is situated adjacent …
GAINESVILLE, Fla. — Greystone has arranged $52.6 million in debt and equity construction financing for Discovery Place at Celebration Pointe in Gaineville. The community will feature 180 units of seniors housing. The type of care was not disclosed Cary Tremper and Matt Miller of Greystone originated the transaction on behalf of Discovery Senior Living.
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. …
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 …