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DevelopmentFloridaNews

Autumn Senior Living to Open Aravilla Clearwater in Florida

by Jeff Shaw

CLEARWATER, Fla. — A partnership between Autumn Senior Living, Cleveland Construction and Small Brothers has received a certificate of occupancy for Aravilla Clearwater, a memory care community in Clearwater. The 65,000-square-foot community features 84 units. Construction took 18 months. The first phase of the project includes a two-story building. The second phase of the project will begin with constructing a three-story, 105,000-square-foot assisted living community with a connection to the memory care community.

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AcquisitionsAssisted LivingFloridaNews

Berkadia Arranges $15M Sale of The Willows of Wildwood in Oxford, Florida

by Jeff Shaw

OXFORD, Fla. — Berkadia’s Seniors Housing and Healthcare Group has arranged the $15 million sale of The Willows of Wildwood, an assisted living and memory care community in the Central Florida municipality of Oxford. The Class A property opened in 2015, featuring 126 units totaling 134 beds. Tim Cobb and Brooks Minford of Berkadia completed the sale.

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FinanceFloridaMemory CareNews

Live Oak Provides $12.3M Refinancing for Watercrest Community in Tarpon Springs, Florida

by Jeff Shaw

TARPON SPRINGS, Fla. — Live Oak Bank has provided a $12.3 million refinancing for Watercrest Senior Living. The bridge-to-permanent loan will refinance debt on Market Street East Lake, a seniors housing community in Tarpon Springs, a coastal suburb of Tampa. East Lake is a 64-unit standalone memory care community that opened in March of 2018. The 45,960-square-foot property sits on 3.4 acres of land. Lument advised Watercrest in the transaction.

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FinanceFloridaMemory CareNews

Berkadia Secures $5.2M Financing for Memory Care Portfolio in Central Florida

by Jeff Shaw

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.

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AcquisitionsAssisted LivingFloridaNews

SLIB Brokers Sale of 84-Unit Beach House Community in Jacksonville

by Jeff Shaw

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. …

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CaliforniaCompany NewsFloridaNews

Industry Veterans Douglas Brawn, Scott McCorvie Launch Alta Senior Living Brand

by Jeff Shaw

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 …

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Assisted LivingDevelopmentFloridaNews

Watercrest, St. Joe Company Open 107-Unit Community in Santa Rosa Beach, Florida

by Jeff Shaw

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.

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AcquisitionsCompany NewsFloridaNews

Strive Senior Living Acquires Classic Home Health Services

by Jeff Shaw

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 …

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AcquisitionsAssisted LivingFloridaNews

ESI Arranges Sale of Plantation Oaks of High Springs in Florida for $9.2M

by Jeff Shaw

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 …

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CCRCDevelopmentFloridaNews

Lifespace Opens 102-Unit Expansion at Village on the Green CCRC in Longwood, Florida

by Jeff Shaw

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 …

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