


Capital One Finances Caddis Construction Project
A large senior living community being developed by Caddis in partnership with operator Solvere Senior Living is going up in Venice, Florida thanks in part to a construction loan provided by Capital One. Totaling $35.7 million, the loan will finance the 181-unit project, which will feature independent living, assisted living and memory care services upon completion in Summer 2020. Although managed by Solvere, the three-story community will operate under Caddis’ “Heartis” brand. It boasts water views, and will feature large common areas, a beauty/barber shop and game rooms, among other amenities. Read More »
New Seniors Housing Investor In The Old Dominion
There’s a new entrant in the seniors housing industry by the name of Bonaventure Realty Group. Coming from the multifamily space, like many new seniors housing investors these days, Arlington, Virginia-based Bonaventure plans to open its first independent living community further south in the town of Henrico (Richmond MSA). Featuring 148 one- and two-bedroom units, the community (called Aspire at Carriage Hill) will host a number of amenities, including an indoor pool, salon and spa, fitness center, patio, gazebo and outdoor dining with a fire pit, among others. Amenities from the adjacent gated 55+ apartment complex will also be available to residents. The total cost is estimated to be... Read More »
Building in Tampa Bay Area
The Tampa Bay seniors housing market continues to grow, marked most recently by a brand-new assisted living and memory care community developed by Pridgen Development and equity investor Lindell Investments, called Tessera of Brandon. The $28 million, 107,000 square-foot community in the town of Brandon was funded by a $21 million, five-year loan provided by Hancock Bank and designed by Bessolo Design Group to include a total of 138 units, 89 of which are assisted living apartments, and the other 49 units are for memory care, with several different floorplans available. Its per-unit cost (at $202,900) is above the average cost for like-projects in the area, which currently stands at... Read More »