ROYAL PALM BEACH, Fla. — Validus Senior Living has broken ground on an assisted living and memory care community in Royal Palm Beach, approximately 70 miles north of Miami.
Florida
CBRE Arranges Acquisition Loan for 120-Unit Assisted Living, Memory Care Asset in Near West Palm Beach
by Jeff Shaw
PALM BEACH GARDENS, Fla. — CBRE National Senior Housing has secured financing for the acquisition of HarborChase of Palm Beach Gardens, an assisted living and memory care facility in Palm Beach Gardens, 15 miles north of West Palm Beach, Fla. The borrower is a joint venture between Silverstone Senior Living and Crescent Real Estate. An affiliate of Silverstone, in partnership with an institutional equity partner, developed the 120-unit property, which opened in 2017. On-site amenities include a virtual bowling alley, doctor’s office and an art studio. Harbor Retirement Associates will continue …
BONITA SPRINGS, Fla. — Discovery Senior Living has hired Bill Sciortino as its new chief operating officer (COO). In this position, Sciortino will lead and focus continuing efforts to drive innovation and deliver a more customized, resident-centric lifestyle experience, according to the company. This hire supports Bonita Springs-based Discovery Senior Living’s ongoing growth and expansion opportunities, which will continue to enhance lifestyle and care services for its residents. “I am excited to be joining a forward-looking organization like Discovery Senior Living, a company that is embracing and leading the change while …
CHC Provides $5M Mezzanine Loan for Acquisition of Four Skilled Nursing Facilities in Florida
by Jeff Shaw
FERNANDINA BEACH, HAINES CITY, ORANGE COUNTY AND NORTH PORT, FLA. — Contemporary Healthcare Capital (CHC) has funded a $5 million mezzanine loan for the acquisition of four skilled nursing facilities in Florida. The borrowers were affiliates of Citadel Care Centers and Cascade Capital Group. Totaling 480 licensed beds, the properties are located in Fernandina Beach, Haines City, Orange County and North Port. The CHC loan was made in conjunction with a senior loan and accounts receivable line provided by SunTrust Bank. Proceeds of the loans were used for the …
FORT MYERS, Fla. — Ziegler has arranged $81.2 million in bond financing for The Christian and Missionary Alliance Foundation, which owns and operates Shell Point Retirement Community, a massive continuing care retirement community (CCRC) in Fort Myers.