IDB Bank Arranges Loan for Florida Facility

Watercrest Senior Living Group’s first-ever “Market Street” senior living community located in Viera, Florida, recently refinanced with the help of Israel Discount Bank of New York (IDB Bank). Opened in 2016 under Watercrest’s new stand-alone memory care brand, the 60-unit community experienced a quick lease-up, reaching 50% occupancy in the first five months after opening.

Things clearly have gone smoothly since, as it is now refinancing with a $10.7 million loan structured by IDB Bank. Lisa Silvers, senior vice president of healthcare lending, handled the transaction.

 

 

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