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DevelopmentFloridaNews

Ryan Cos. Delivers 204-Unit Grand Living at Wellen Park in Venice, Florida

by Jeff Shaw

VENICE, Fla. — Ryan Cos. US Inc. has completed construction of Grand Living at Wellen Park, a 235,267-square-foot luxury senior living community in Venice, a Gulf Coast city approximately midway between Tampa and Fort Meyers. Offering 204 residential units, the property will be part of Wellen Park, a master-planned development encompassing 11,000 acres. The four-story building includes 156 independent and assisted living units, 36 memory care units and 12 villas.  Ryan served as the developer and builder as well as an investor in the community. Ryan A+E Inc., Ryan’s design …

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Affordable HousingDevelopmentFloridaNews

SG Holdings Plans Summer Opening for $350M Mixed-Use Development in Miami

by Jeff Shaw

MIAMI — SG Holdings has completed leasing at Sawyer’s Walk, a 3.4-acre mixed-use development underway in Miami’s Overtown neighborhood. The project, which will feature retail space, offices and affordable housing for seniors, is set to open this summer. SG Holdings is a partnership comprising Swerdlow Group, SJM Partners and Alben Duffie. The development team broke ground on Sawyer’s Walk in summer 2021. The development costs were not disclosed, but the Miami Herald reported the price tag hovers around $350 million. “The anticipated delivery of our mixed-use development will serve as an economic …

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AcquisitionsAssisted LivingFloridaNews

SLIB Arranges Sale of 211-Unit Portfolio in Florida

by Jeff Shaw

BRADENTON and VENICE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Bradenton and Venice, both located on the Gulf Coast south of Tampa. The properties feature a combined 211 units of assisted living and memory care. The Bradenton asset was built in 1989, while Venice asset was constructed in 1998. The Bradenton property totals 74,786 square feet on approximately 7.62 acres of land while the Venice property totals 74,445 square feet on approximately 4.06 acres of land. The buyer is Florida-based …

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AcquisitionsAssisted LivingFloridaNews

Sherman & Roylance Brokers Sale of 42-Unit Community in Northwestern Florida

by Jeff Shaw

FLORIDA — Sherman & Roylance has arranged the sale of a 42-unit, 64-bed assisted living and memory care community in Northwestern Florida. CareTrust REIT sold the asset to a local owner-operator for an undisclosed price. The community was built in 1997 and was 87 percent occupied at the time of sale. Jack Osteen, Shep Roylance, and John Sherman of Sherman & Roylance led the transaction.

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DevelopmentFloridaNews

Belmont Village Breaks Ground on 153-Unit Community in Aventura, Florida

by Jeff Shaw

AVENTURA, Fla. — Belmont Village Senior Living has broken ground on Belmont Village Aventura in Aventura, a coastal city approximately 15 miles north of Miami.  The luxury project is being built in partnership with Turnberry, a developer of design-driven, amenity-rich residential, hospitality and mixed-use projects. It will be Belmont’s third location in South Florida and is scheduled to open in early 2026. This venture is Turnberry’s first collaboration with Belmont Village Senior Living. Spanning almost 180,000 square feet, Belmont Village Aventura will rise 11 stories. It will feature 153 independent …

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AcquisitionsAssisted LivingFloridaNews

Chicago Pacific Founders Acquires The Summit of Lakewood Ranch in Florida

by Jeff Shaw

LAKEWOOD RANCH, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Lakewood Ranch in Lakewood Ranch, approximately 40 miles south of Tampa. The community offers assisted living and memory care. CPF plans to make improvements to the campus. Grace Management will take over management of the property. The seller, price and number of units were not disclosed. Brett Gardner and the seniors housing team at Walker & Dunlop advised the seller on the transaction.

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Active AdultDevelopmentFloridaNews

United Group Completes $62.5M The Alloro at University Groves in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — The United Group of Cos. has completed The Alloro at University Groves, a seniors housing community in Sarasota. The property offers 183 units of “independent living lite,” which the developer describes as a blend of active adult and independent living service levels. Development costs were estimated at $62.5 million. The Alloro at University Groves spans 10 acres of land and features one-bedroom, two-bedroom and penthouse units across its two three-story buildings. In between the two buildings is a 15,000-square-foot clubhouse.

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Affordable HousingDevelopmentFloridaNews

Housing Trust Group Breaks Ground on $44M Naranja Grand Affordable Community in Leisure City, Florida

by Jeff Shaw

LEISURE CITY, Fla. — Housing Trust Group (HTG) has started construction of Naranja Grand, an affordable housing community for seniors in Leisure City, approximately 25 miles southwest of Miami. The $44 million project is a collaborative effort between HTG and Miami Lakes-based Elite Equity Development. The eight-story property will feature 120 units reserved for income-qualifying residents age 55 and older who earn at or below 30, 60, and 70 percent of the area median income (AMI). Monthly rents will range from $580 to $1,625. Construction is slated for completion in …

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CCRCFinanceFloridaNews

Ziegler Arranges $10.5M Bond Financing for Jacaranda Trace in Venice, Florida

by Jeff Shaw

VENICE, Fla. — Ziegler has arranged $10.5 million in bond financing for Jacaranda Trace, a seniors housing community in the Gulf Coast city of Venice. The borrower is Convivial Life Inc. Jacaranda Trace is part of a multi-phase, master-developed campus originally built in 1998 consisting of 436 independent living residences (apartments and villas), 19 assisted living units, 36 memory care units and a clubhouse on approximately 33 acres.  In June of 2022, the borrower used a portion of the proceeds of the issuance of 2022 bonds in the total amount …

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FloridaNews

Pinnacle Hires Lauren Levrant as Vice President of Affordable Development to Focus on Miami Portfolio

by Jeff Shaw

MIAMI — Pinnacle has hired Lauren Levrant as vice president of affordable development. She will focus on expanding Pinnacle’s affordable housing portfolio, primarily in Miami. Levrant will be responsible for identifying and evaluating potential affordable housing development opportunities in Miami-Dade County, as well as overseeing projects from conception to completion. Levrant started her career as an intern at Pinnacle, and over time was promoted to be a development associate. In 2017, she moved to the West Coast and worked across markets in California, Colorado, Arizona and New Mexico. She most …

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