CENTRAL FLORIDA — Berkadia’s Seniors Housing & Healthcare Group has arranged $5.2 million in financing for six memory care facilities in Central Florida. The transaction refinances 36 memory care units across six six-unit residential homes situated in two counties. Berkadia processed the transaction as a scattered-site loan under HUD’s 232/223(f) program. The 34-year term loan represents a 60 percent loan-to-value ratio and a debt load of $143,300 per bed. Ed Williams secured the financing on behalf of the California-based sponsor. Further details on the properties were not disclosed.
JACKSONVILLE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Beach House, an 84-unit assisted living and memory care community in Jacksonville. Built in 2014, the community features a total of 100 beds. The buyer is a partnership between a regional operator and two investment firms, one based in Florida and the other in New York. The seller was divesting of the asset as part of a planned investment horizon. The price was not disclosed. Bradley Clousing, Matthew Alley and Jeff Binder handled the transaction for SLIB. …
WEST PALM BEACH, Fla. — Former Welbrook Senior Living executive Douglas Brawn has announced the creation of a new seniors housing investment, development and operations company named Alta Senior Living. Based in West Palm Beach, with another office in Santa Monica, California, the company is slready seeking investment opportunities in Florida and California. Industry investment veteran Scott McCorvie recently joined the company as chief financial officer and executive vice president of investments “Senior living is going to experience exponential growth over the next five to 10 years, and I want …
SANTA ROSA BEACH, Fla. — Watercrest Senior Living Group and The St. Joe Company have welcomed its first residents to Watercrest Santa Rosa Beach Assisted Living and Memory Care. Located on the Florida Panhandle, the property features 75 assisted living units and 32 memory care units in a 92,000-square-foot building.
ORLANDO — V 3 Capital Group, through its affiliate Strive Senior Living LLC, has completed the corporate acquisition of Classic Home Health Services Inc. for an undisclosed price. The acquired company is an in-home healthcare provider that offers medical treatment or assistive care for patients who do not require hospitalization or facility care but do need additional support to live safely in their homes. Strive purchased all assets of the company and will continue operations under the Classic Home Health Services brand. Classic is an established company with 25 years …
HIGH SPRINGS, Fla. — Evans Senior Investments (ESI) has negotiated the sale of Plantation Oaks of High Springs, a 66-unit assisted living and memory care community in High Springs, approximately 20 miles northwest of Gainesville. An independent owner-operator sold the community to a regional owner-operator for $9.2 million, or $139,000 per unit. The buyer secured a loan from the in-place lender on the property. Originally built in 1988 with a 36-unit expansion in 2014, Plantation Oaks of High Springs is licensed for 52 assisted living beds and 20 memory care …
LONGWOOD, Fla. — Lifespace Communities has opened The Oaks, a health center expansion at Village on the Green, a continuing care retirement community (CCRC) in the Orlando suburb of Longwood. The new building adds 48 skilled nursing beds, 36 assisted living apartments and 18 memory care suites to the 80-acre senior living community. “We are passionate about providing the best health services to seniors and their families, and the new health center is an invaluable addition to our offerings,” says Rachel Blumberg, executive director at Village on the Green. “Residents …
ORLANDO — Wendover Housing Partners has broken ground on Hawthorne Park, an affordable seniors housing community in Orlando’s Pine Hills neighborhood. The 120-unit development will replace a run-down shopping center and become the new anchor for the neighborhood’s town center. Hawthorne Park will serve as one of the key projects in the Pine Hills Neighborhood Improvement District – an initiative to revitalize the area and its working-class community of more than 60,000 residents. “The Pine Hills neighborhood has an enormous opportunity for revitalization and Hawthorne Park will be a great …
PORT RICHEY, ZEPHYRHILLS AND CASSELBERRY, FLA. — Colliers International has negotiated the $13.7 million sale of a three-property assisted living facility portfolio in Port Richey, Zephyrhills and Casselberry. Florida Seniors Properties Inc. sold the portfolio, which was 66 percent occupied at the time of sale. The prices were not disclosed. Best Care Senior Living LLC acquired The Cottages in Port Richey, which is located about 37 miles northwest of downtown Tampa. A joint venture between 201 Sunset Drive LLC and 6701 Dairy Road LLC acquired Westbrook Manor in Zephyrhills and …
GAINESVILLE, Fla. — Alliant Capital has started construction of Deer Creek Senior, a 62-unit affordable seniors housing community in Gainesville. Units will be reserved for residents over age 62 earning up to 60 percent of the area median income. Four units are reserved specifically for those who are homeless, survivors of domestic violence or persons with disabilities. The project is receiving $12.5 million in financing via 9 percent Low Income Housing Tax Credits. It is scheduled for completion in December 2021. Alliant Capital is working with Rural Neighborhoods on the …