BOCA RATON, Fla. — Protea Capital Partners has opened a showroom at Sunscape, a 100-unit assisted living and memory care community under cpnstruction in West Boca Raton. Protea Capital Partners is the developer, and Solvere Living will operate the community upon opening. Hedrick Brothers Construction is handling construction of the two-story luxury community. Irwin Partners Architectures designed the building, while Klang & Association Coral Springs is the interior designer. “Our research indicates there’s a growing need by families living in the West Boca area to have their loved ones nearby,” …
ST. PETERSBURG, Fla. — KeyBank Community Development Lending and Investment and KeyBank Real Estate Capital have provided a total of $69.8 million for the redevelopment of Jordan Park Apartments in St. Petersburg. Norstar Development USA-CDL, a Buffalo, N.Y.-based affordable housing developer, and the St. Petersburg Housing Authority are working together on the project, the timeline of which was not disclosed. Jordan Park Apartments was originally built in 1939 on land donated by businessman Elder Jordan Sr. The 24-acre site contains single-family, duplex, triplex and quadplex buildings. The property’s former residents …
JENSEN BEACH, Fla. — Grandbridge Real Estate Capital’s Tampa-based Senior Housing Investment Sales team has arranged the sale of The Cabana at Jensen Dunes. The 126-unit assisted living and memory care community is located in Jensen Beach, a coastal community approximately midway between Miami and Orlando. The community opened in August 2016. Convivial Life acquired the asset, along with an adjacent 11.4-acre development parcel, for $32.5 million. The vacant portion of land is fully entitled for 210 units of independent living. The seller was not disclosed. Ziegler arranged acquisition financing …
CANTON, Ga., and AMELIA ISLAND, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sales of two seniors housing communities in the Southeast. The first property is The Arbor at Bridgemill, opened in 2018 and featuring 206 units in the Atlanta suburb of Canton. The second asset is The Lakeside at Amelia Island, opened in 2019 and featuring 187 units in the tourist destination of Amelia Island, just northeast of Jacksonville. Aspire Development Partners built the communities, which The Arbor Company operates. The buyer and price were not disclosed.
JACKSONVILLE, Fla. — RangeWater Real Estate has acquired a 6.4-acre property in Jacksonville with plans to build an active adult community on the site. RangeWater plans to break ground in early 2022 on Olea Beach Haven. Plans call for a 175-unit, age-restricted community with one-, two- and three-bedroom units. Founded in 2006, RangeWater acquires, develops, manages and invests in multifamily communities across the Southeastern and Southwestern United States, with a $5.4 billion portfolio. RangeWater opened its first two Olea properties in Florida in August 2020 and says it experienced high …
JACKSONVILLE, Fla. — Grandbridge Real Estate Capital has arranged $19.5 million in financing for Starling at San Jose, a seniors housing community in Jacksonville. The financing retired a bridge loan with Grandbridge’s parent company, Truist Bank. The community was built in 2017. Further details about the property were not disclosed. Richard Thomas and the Grandbridge’s Atlanta-based Seniors Housing and Healthcare Finance team arranged the financing.
FLORIDA — Blueprint Healthcare Real Estate Advisors has arranged the $51 million sale of two skilled nursing facilities, on in Central Florida and one in Northeast Florida. The communities offer a total of 300 licensed beds near local medical centers. A Florida-based owner operator sold the properties to an undisclosed buyer in an off-market transaction.
CLEARWATER, Fla. — Elevate Senior Living has broken ground on an independent living, assisted living and memory care community in the Tampa beach suburb of Clearwater. According to Elevate, more than 22 percent of Clearwater residents are seniors, and the percentage is expected to climb. Meanwhile, more than 14 million seniors in need of senior living services cannot afford what is currently being offered. As a result, the 55,000-square-foot community is meant to help serve the middle market. Elevate Senior Living at Clearwater will consist of six unique households that …
TALLAHASSEE, Fla. — LeadingAge Florida has appointed Rhanda McKown as its director of affordable housing. McKown joins LeadingAge Florida from the North Tampa Housing Development Corp., where she served as a local contract specialist. She has nearly 20 years of experience in various aspects of the housing industry and spent the last 15 years conducting management and occupancy reviews (MOR) under the Performance Based Contract Administration (PBCA) contract in Florida. “Through her previous work with our association and her work at the North Tampa Housing Development Corp., she knows many …
MAITLAND, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Savannah Grand of Maitland, a 98-unit assisted living and memory care community in the Orlando suburb of Maitland. The community was built in 1998. A publicly traded REIT sold the asset to a regional owner-operator for an undisclosed price. The buyer has planned renovations to the asset. Bradley Clousing and Daniel Geraghty handled the transaction in SLIB. “This will be an excellent addition to the buyer’s portfolio,” says Clousing. “They will be able to utilize their construction …