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AcquisitionsFloridaNewsSkilled Nursing

SLIB Negotiates Sale of 120-Bed Skilled Nursing Facility in Lakeland, Florida

by Jeff Shaw

LAKELAND, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 120-bed skilled nursing facility in Lakeland, located between Tampa and Orlando. The asset was de-licensed by the state in 2017 but was allowed to re-open in early 2020 to accommodate COVID residents. The operator was provided a new license and the seller, a publicly traded REIT, elected to divest of the asset as it was nearly vacant after the initial COVID wave subsided. SLIB represented the buyer, Mainstay Senior Living, which bought the adjacent assisted living …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $80M Financing for Mayflower Retirement Center Expansion in Winter Park, Florida

by Jeff Shaw

WINTER PARK, Fla. — Ziegler has arranged $80 million in bond financing for an expansion project at Mayflower Retirement Center, a continuing care retirement community in Winter Park, a suburb of Orlando. The community opened in 1989 is situated on approximately 37 acres and currently consists of 220 independent living apartments and 28 villas; 31 private assisted living units with 15 used for memory support services; 60 nursing beds; and associated common areas. The borrower is pursuing a two-phase repositioning of its campus. Phase I was financed in November of …

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Active AdultDevelopmentFloridaNews

Origin Construction to Build $75M America Walks Community in Port St. Lucie, Florida

by Jeff Shaw

PORT ST. LUCIE, Fla. — Miami-based Origin Construction has unveiled plans for America Walks, an active adult rental community in Port St. Lucie spanning 60 acres and more than 400 residences. The project is expected to cost $75 million to develop and is slated for completion in the third quarter of 2023. Ohio-based America Walks is the developer for the gated community. America Walks will feature both a residential and recreational component, including two four-story apartment buildings with 115 units, as well as 300 villas in 60 buildings surrounding four lakes …

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DevelopmentFloridaNews

Ryan Cos., Grand Living Start Construction of Grand Living at Wellen Park in Venice, Florida

by Jeff Shaw

VENICE, Fla. — Ryan Cos. US Inc. and Grand Living have started construction of Grand Living at Wellen Park, a luxury senior living community in Venice. The community will be part of Wellen Park, a master-planned community on the state’s Gulf Coast. The 235,267-square-foot building will bring 192 apartments to Wellen Park. According to a study conducted by Moore Diversified Services, the 75-and-older demographic with income-qualified households in the Venice area is expected to increase by 35.8 percent between 2020 and 2025. Residents will have access to Wellen Park’s amenities, …

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AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of 82-Unit Legacy at Highwoods Preserve in Tampa

by Jeff Shaw

TAMPA, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Legacy at Highwoods Preserve, and 82-unit assisted living and memory care community in Tampa. The community was developed by the seller in 2015 and operated by its affiliate operating company. This asset was an operational outlier for the company, representing its last asset in the Southeast The buyer was Alta Senior Living, which is strategically growing its operating presence in Florida. The price was not disclosed. Bradley Clousing and Daniel Geraghty handled the transaction for SLIB.

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FloridaNewsPeople

LeadingAge Florida Elects New Board of Trustees

by Jeff Shaw

TALLAHASSEE, Fla. — LeadingAge Florida, a Tallahassee-based branch of the nonprofit industry organization, has elected Bruce Jones as its new board chair during the association’s convention in Orlando. Jones is the CEO of Vicar’s Landing in Ponte Vedra Beach. In addition to serving in multiple leadership roles for the association, he also serves on the board of directors of the St. John’s County Council on Aging and is chair-elect of the Brooks College of Health Dean’s Council at the University of North Florida. He is a fellow of both the …

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FloridaNewsOperationsPeople

Watercrest Senior Living Group Promotes James Brassard to Executive Director of Pelican Landing

by Jeff Shaw

SEBASTIAN, Fla. — Watercrest Senior Living Group has promoted James Brassard to executive director of Pelican Landing Assisted Living and Memory Care in Sebastian. The former executive director, Michelle Miller, was recently promoted to regional director of clinical operations. Brassard joined the Watercrest family in 2019 as director of sales at Palm Bay Memory Care, and was later promoted to executive director there. Brassard has extensive expertise in senior living start-ups and turn-around communities. A recipient of the FALA Sales and Marketing Director of the Year award, he has multi-site …

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FinanceFloridaNewsSkilled Nursing

Monticello Provides $58.1M Financing for a 607-Bed Skilled Nursing Portfolio in Florida

by Jeff Shaw

FLORIDA — Monticello has provided $58.1 million in first lien debt financing for the refinance of five skilled nursing facilities consisting of 607 beds in Florida. The borrower is an experienced owner and operator with a current portfolio of over 35 buildings across Florida and has an established relationship with Monticello. Prior to this deal, Monticello financed the acquisition of a number of facilities during 2018 for the sponsor. Further details on the portfolio were not disclosed.

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Assisted LivingDevelopmentFinanceFloridaNews

CBRE Arranges Construction Financing for 130-Unit Anthology Boynton Beach in Florida

by Jeff Shaw

BOYNTON BEACH, Fla. — CBRE Senior Housing has arranged construction financing for Anthology Boynton Beach, a Class A, 130-unit senior living community located in the South Florida city of Boynton Beach. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing arranged the financing on behalf of  a joint venture between Anthology Senior Living and Harrison Street. The community will be operated Anthology, CA Ventures’ vertically integrated senior housing platform. Situated on a 5.3-acre site near the heart of Boynton Beach, the community will be a part of a …

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AcquisitionsFloridaNews

Innovation Senior Living Buys Wellington Elder Care in Florida for $10M

by Jeff Shaw

WELLINGTON, Fla. — Innovation Senior Living has acquired Wellington Elder Care in the South Florida city of Wellington for $10 million. This the third property under Innovation’s ownership and management. The new acquisition is part of the company’s five-year plan to add 12 to 15 properties to its portfolio. The 10,845-square-foot, 26-unit community will be renamed The Club at Wellington. “Wellington Elder Care, now The Club at Wellington, is an excellent community that is stable, well-run, and centrally located in the state of Florida,” says Pilar Carvajal, CEO and founder …

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