First Citizens Bank’s Healthcare Finance team provided a loan to refinance American House St. Petersburg, a seniors housing community located in St. Petersburg, Florida. This 165-unit community is comprised of 66 independent living, 66 assisted living and 33 memory care units.
Previously, Prevarian Senior Living bought a parcel near Tyrone Square Mall for $5.18 million. American House St. Petersburg was then later developed by Prevarian, Harrison Street and American House, one of the country’s largest owner/operators of senior living communities. The community is American House’s ninth senior living community in Florida and first in the Tampa Bay area.
The community opened in 2021, with rents ranging from $2,900 to $4,570 for independent living units, $4,380 to $5,510 for assisted living and $5,140 to $6,120 for memory care, according to American House spokeswoman Alyse Wagner.
