FL Senior Community Receives $45M Financing
- Feb 16, 2018
Trez Forman Capital Group has arranged $44.8 million construction financing for a maintenance-free, 309-unit senior community in Venice, Fla. Envisioned mainly for Baby Boomers with inclination towards traveling, The Floridian Club of Sarasota will not be age-restricted.
The property will be located at 2445 East Venice Ave., a roughly one-hour drive from downtown Tampa. The upcoming development will include 261 single-story attached villas with optional one-car garage and 48 three-story, elevator-served units. All apartments will comprise one or two bedrooms and one or two baths, with floorplans ranging between 991 and 1,339 square feet.
Encouraging Active Lifestyles
Apartments are available for long-term leases from two to 10 years. The gated Floridian Club will include amenities such as:
- infinity-edge pool
- lap pool
- fitness center
- club room
- pickleball courts
- guest suites
- business center
- outdoor barbecue area
- pet spa
- walking/running trails
The loan was originated by Ben Jacobson of Trez Forman, while borrower Sarasota Floridian LLC was represented by Larry Lieberman and Fred Starling.
According to Brett Forman, CEO of Trez Forman, Baby Boomers are looking for communities offering the lifestyle of The Floridian Club, the interest in renting versus owning being on the rise in the targeted demographic.
In January, Trez Forman arranged $6.8 million in construction financing for a 50-unit community in Philadelphia aimed at Millennials.
Renderings courtesy of Trez Forman Capital Group