WATERSOUND, Fla. — Master developer Minto Communities USA, global lifestyle brand Margaritaville Holdings and The St. Joe Company (NYSE: JOE) have started land development activities for Latitude Margaritaville Watersound. The site for the active adult community is located in Florida’s Panhandle region in Bay County near Panama City Beach. An official groundbreaking is planned for spring 2020. The project will total approximately 3,500 for-sale homes with a sales center, model homes and resort-style amenities for those 55 and older. The sales center and models are projected to open early 2021. …
Florida
JACKSONVILLE and STUART, Fla. — CBRE National Senior Housing has brokered the sale of Inspired Living of Jacksonville and Inspired Living of Stuart, both located in Florida. The portfolio offers approximately 300 units and was in initial lease-up at the time of closing. Lisa Widmier of CBRE represented the seller, a privately held owner-developer. The buyer was a large public REIT in partnership with a national, leading management company. The price was not disclosed.
TAMPA, Fla. — Evans Senior Investments (ESI) has arranged the sale of Tessera of Westchase, a 102-unit assisted living and memory care community in Tampa. An investor/developer sold the property to a publicly traded REIT for $28.8 million, or approximately $282,000 per unit. The community opened in summer 2019. The new owner is bringing in a regional operator to manage the property.