Link/MedCore Join to Develop Arizona Active Adult Community
Link Senior Development and MedCore Partners announced the development of Ativo of Sundance, a 202-unit senior living community inside Sundance Active Adult master planned community in Buckeye, Arizona. The 1,100-home community is managed by Associate Asset Management (AAM) and boasts an 18-hole public golf course, community center and more than 20 different clubs from which homeowners can become members. It is also located in Buckeye, the fastest growing small city in the United States. The new senior living campus will offer 103 independent living, 75 assisted living and 24 memory care units immediately adjacent to the Sundance Adult Village... Read More »
Saudi Investment Team Adds to Florida Portfolio
Real estate giant Madison Marquette has teamed up with Saudi Arabia-based Arbah Capital to build a $37 million senior living community in Punta Gorda Isles, Florida. This high-quality, 135-unit community has 116,000 square feet, making the total price per square foot $319. It is scheduled for completion in early 2023 and will be operated by Meridian Senior Living. Banesco USA provided the debt for the project. Tampa-based Diaz Fritz Group is the project’s general contractor and St. Louis-based CASCO+R|5 is the architect. This is the second enterprise for the Madison Marquette-Arbah Capital duo. They previously joined together to build a 117,000-square foot, 144-unit... Read More »
Homebuilder Toll Brothers Announces Another Active Adult Development
Long-time luxury home developer Toll Brothers has joined a slew of other builders to break into the active adult market. It most recently announced the anticipated opening of Regency at Waterside in the Philadelphia metropolitan area, which includes 496 high-end single-family homes, carriage-style townhomes and a community clubhouse for seniors. Prices range from mid-$500,000s to upper $700,000s. Across its 227 acres of landscaping and four “collections”, buyers can choose between 23 different one- and two-story story home designs. The 10,700-square foot clubhouse contains an outdoor and indoor pool, a pavilion, fire pit, fitness center, putting green and walking trails throughout the... Read More »
CanAm Capital Finances Construction Project in Florida
CanAm Capital Partners (CACP) has closed a $10 million mezzanine loan for an affiliate of Lloyd Jones, LLC to build a 159-unit active adult and independent living rental community located on a 10-acre site in Port St. Lucie, Florida. The property will operate under Lloyd Jones’ proprietary Aviva brand as Aviva, Port St. Lucie. CACP is a full-service financial firm providing EB-5 investment funds and conventional financing. The $10 million in debt for the Port St. Lucie project was reinvested from the company’s $350 million loan to Florida East Coast Industries’ Brightline rail project. The original loan was a key financing piece in the development of the high-speed passenger rail system in... Read More »
Joint Venture Secures Financing for New Development
A joint venture between Singerman Real Estate and Darnell Capital is developing a brand-new assisted living/memory care community in Palos Verdes, California, thanks in part to construction financing arranged by Richard Swartz, Jay Wagner, Aaron Rosenzweig, Tim Hosmer and Bailey Nygard of Cushman & Wakefield. A large regional bank provided $23 million in debt at favorable terms. Set in a three-story former office building, the community will feature 87 units and 65,000 square feet. Phoenix-based Cadence Living will operate the community upon completion. Read More »Schedule a demo
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