FLORIDA and OHIO — Blueprint Healthcare Real Estate Advisors has brokered a three-property seniors housing portfolio totaling 179 units in Florida and Ohio. An institutional owner sold the assets to three separate buyers. Further details were not disclosed.
WEST PALM BEACH, Fla. — Watermark Retirement Communities and Zom Senior Living have opened The Watermark at West Palm Beach, a 154-unit seniors housing community in the South Florida city of West Palm Beach. The community is the latest addition to Watermark’s luxury Élan Collection of communities. “West Palm Beach offers everything today’s sophisticated seniors want, including easy access to travel and proximity to dining, shopping, arts, culture and world-class medical care,” says David Freshwater, chairman of Watermark Retirement Communities. Spanning over 245,000 square feet, The Watermark at West Palm …
JACKSONVILLE, Fla. — SRI Management, in conjunction with Jacksonville-based real estate developer Rimrock Cos., has opened The Canopy at Duval Station, a seniors housing community in Jacksonville. The property offers assisted living and memory care services. The number of units was not disclosed. The community’s executive director is Leslie Nostrant.
SUNRISE, Fla. — Capital Funding Group has provided a $27.2 million construction loan for the conversion of a partially completed hotel in South Florida to a 191-unit assisted living community. The property is located at 3003 N. University Drive in Sunrise, about 10 miles west of Fort Lauderdale. The borrower, YMP Real Estate Management, will use $7.4 million of the financing to complete the shell construction. YMP will also manage the seniors housing community when it opens. The construction timeline was not disclosed.
DAVENPORT, Fla. — Virtus Real Estate Capital and Blaze Capital Partners have acquired The Pointe at Siena Ridge, a 163-unit active adult community in Davenport, a suburb southwest of Orlando. This is Blaze’s fourth acquisition in the active adult sector over the past five months following Hardy Springs in the Paulding County submarket of Atlanta; Annabelle on Main in the Duluth submarket of Atlanta; and Sage Stone Oak in San Antonio, Texas. The Pointe at Siena Ridge is Blaze’s first active adult investment in Florida. “As the baby boomer generation …
NOKOMIS, Fla. — Atlas Senior Living has opened The Goldton at Venice, an independent living, assisted living and memory care community in Nokomis. The property is located near Calusa Lakes Golf Club and Mission Valley Country Club, as well as the Gulf of Mexico, local beaches and parks.
BRADENTON Fla. — Lincoln Avenue Capital (LAC) has broken ground on the 301 Flats and The Savoy at 301 in Bradenton, south of Tampa. Upon completion in 2025, the 301 Flats and The Savoy at 301 will provide 324 units of affordable housing for families and individuals along 248 units of seniors housing, respectively.
FORT LAUDERDALE, Fla. — Housing Trust Group (HTG) and Mount Hermon African Methodist Episcopal Church Inc. have broken ground on Mount Hermon Apartments, an affordable seniors housing community in Fort Lauderdale. Development costs are estimated at $43.5 million for the 104-unit community. The seven-story development will offer a mix of one- and two-bedroom units ranging from 650 square feet to 950 square feet. Apartments are reserved for income-qualifying residents age 62 and older who earn 60 percent or less of area median income (AMI), with rents ranging from $425 to …
CUTLER BAY, Fla. — General contractor ANF Group Inc has broken ground on Sol Vista, a 227-unit affordable seniors housing community in Cutler Bay, approximately 20 miles south of downtown Miami. MRK Partners and Cypress Equity Investments are co-developers on the project. The two companies are partnering with the Housing Finance Authority of Miami-Dade County, the Florida Housing Finance Corp., R4 Capital LLC and R4 Capital Funding to finance the development. Sol Vista’s affordability will be preserved for 30 + years, thanks to a new regulatory agreement on the property. …
CORAL GABLES, Fla. — Sunrise Senior Living has broken ground on its first community in metro Miami, Sunrise of Coral Gables. The 94-unit building is slated to rise six stories and total 90,000 square feet. Opening is scheduled for 2024. Sunrise’s in-house development and design teams are partnering with Coral Gables-based architecture firm Behar Font & Partners and general contractor Winmar Construction. The site for Sunrise of Coral Gables was chosen for its accessibility and convenience. On the main street of Ponce de Leon, the community has access to neighboring …