PORT ORANGE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of a 54-unit memory care community in Port Orange, a coastal city in Central Florida. The seller was a private REIT looking to exit an operational outlier from a previous portfolio. The buyer is a growing regional owner-operator expanding its presence in Florida. The price was not disclosed. Bradley Clousing and Daniel Geraghty handled the transaction for SLIB.
VENICE, Fla. — Convivial Life Inc. has acquired Jacaranda Trace, a seniors housing community featuring 240 independent living and 55 assisted living/memory care units in Venice. The seller was Venice Florida Senior Holdings LLC. The price was not disclosed. As part of the acquisition, Convivial also purchased an 85,000-square-foot clubhouse featuring a fitness center; heated outdoor pool and hot tub; on-site doctor’s clinic; multiple dining venues; billiards and activity rooms; woodworking shop; and library. Convivial is already working on expansion plans at the 33-acre community. LifeStar Living arranged the transaction …
MIAMI — Drive Development Partners, a boutique development advisory and construction management firm, has merged with Lloyd Jones, a real estate investment firm. Both companies are headquartered in Miami. Drive, which specializes in senior living and multifamily developments, matches Lloyd Jones’ current $1 billion portfolio which consists primarily of those two asset types. Drive’s managing partner in Florida, Michael Hass, will assume the role of senior vice president of development, design and construction at Lloyd Jones. The company currently has one ground-up senior living development under construction in Florida and …
POMPANO BEACH, Fla. — John Knox Village of Florida (JKV), a continuing care retirement community in the South Florida city of Pompano Beach, has broken ground on Westlake, a two-tower, $120 million expansion. The groundbreaking comes on the heels of the completion of The Pavilion, a $35 million addition that included a 380-seat cultural arts center, two restaurants and a bar. “Over the past five years, a master site plan has been developed to guide the capital improvements of our 70-acre campus and the opening of our Pavilion and, in …
PHOENIX, ORLANDO and CHICAGO — The Walker & Dunlop seniors housing team has arranged three acquisitions with three different institutional partners. The transactions totaled over $150 million across 419 independent living, assisted living and memory care units. The assets are located in the Phoenix, Orlando and Chicago metro area. Walker & Dunlop’s Tony Cassie and Sam Thompson provided advisory services and facilitated the Arizona sale, while Brett Gardner, Joshua Jandris and Mark Myers provided advisory services and facilitated the Florida and Illinois sales.
MELBOURNE, Fla. — Blake Management Group and Cardinal Ventures Inc. have hired Misty Zulli as executive director and Reetu Haave as sales director at The Blake of Viera, a senior living community in Melbourne,. Cardinal Ventures is building the 86,000-square-foot assisted living and memory care community with 97 units. Zulli has worked in senior living for 14 years in various positions, from floor nurse to spending the past three years as an executive director during the height of the pandemic. Reetu attended George Washington University for both undergraduate and graduate …
BOCA RATON and LANTANA, Fla. — Ziegler acted as exclusive financial advisor in raising financing of $20.5 million on behalf of Comprehensive Care Capital (CCC) to acquire two seniors housing communities in Boca Raton and Lantana. The communities, Banyan Place – Boca and Banyan Place – Lantana, offer independent living, assisted living and memory care services. Banyan Place – Boca features 130 independent living, assisted living and memory care beds. Banyan Place – Lantana features of 39 licensed memory care beds. CCC’s operating affiliate, Forte Healthcare, led by Yosef Nathan, …
FORT MYERS, Fla. — Ziegler has arranged $68 million in financing for Cypress Cove at HealthPark Florida, a continuing care retirement community in Fort Myers. The community currently features 377 independent living units, 44 assisted living units, 44 memory support units and 64 skilled nursing units on a 48-acre campus. The financing will fund the addition of a 12-acre gated community known as The Oaks at Cypress Cove, which will include 24 independent living villas, 24 independent living apartments and new common areas in a five-story building. The financing comprises …
WINTER GARDEN, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Winter Garden, a 113-unit senior living community in Winter Garden, a suburb of Orlando. The name change reflects the change in ownership. Grace Management Inc. will take over operations at the community. Additional terms of the deal were not disclosed. The new owner plans to make investments in the campus.
PALATKA, Fla. — Affordable Housing Investment Brokerage Inc. (AHIB) has sold Kay Larkin Apartments, a 60-unit garden-style apartment complex, and Grand Pines Apartments, a 78-unit senior living apartment community. Both properties are located in Palatka, approximately midway between Jacksonville and Orlando. The Grey Rock Group LLC acquired the assets from a private investor for $4.9 million. Kyle Shoemaker and Bill Brading of represented both the buyer and the sellerin the transaction. Kay Larkin and Grand Pines were both developed using LIHTC and SAIL funding and are subject to regulatory agreements …
