VENICE, Fla. — Cushman & Wakefield Senior Housing Capital Markets, in collaboration with Bridge Structured Finance, has arranged financing for Jacaranda Trace, a seniors housing community in Venice, a beachfront city south of Tampa.
The borrower is a joint venture between Bridge Investment Group and Freedom Management. The amount and use of the funding was not disclosed. Ally Bank provided the capital.
Built in stages between 1999 and 2015, Jacaranda Trace offers 436 units of independent living, 19 units of assisted living and 36 units of memory care across a campus comprised of four main buildings and 47 villas. Jacaranda Trace offers both entrance-fee and rental options for residents, in addition to units that are individually owned by residents.
The Cushman & Wakefield team involved in the financing includes Richard Swartz, Jay Wagner, Aaron Rosenzweig and Tim Hosmer.