October 2021 | Page 2 of 2 | Florida Medical Office Space

Baptist Health, Belmont Village Obtain $74M Loan To Build Senior Living Center

A joint venture between Baptist Health South Florida and Belmont Village Senior Living obtained a $74.1 million construction loan to build a high-end senior living facility in Coral Gables.

First, Miami-based nonprofit Baptist Health sold the 1.4-acre site at 4111 Salzedo St. for $18.5 million to BVBP PO CG LLC, a joint venture between Houston-based Belmont Village and Baptist Health that’s led by CEO Patricia Will. Wells Fargo Bank provided the construction loan to the buyer.

Belmont Village Coral Gables was approved in 2020 for 232 units of independent living, assisted living and memory care, plus 18,388 square feet of ground-floor commercial space. A Healthy Living Center by Baptist Health will also be on the ground floor to offer wellness services.

According to the project’s website, Belmont Village Coral Gables is expected to open in spring 2023.

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October 7, 2021/1 Comment/by admin

News

Boca Raton Church Could Be Redeveloped Into Assisted Living Facility

Park Square Assisted Living Facility rendering 760x320

A Boca Raton church is under contract to a developer who wants to replace it with an assisted living facility.

City officials received an application for the Park Square Assisted Living Facility on the 3.56-acre site at Two S.W. 12th Ave., which is just south of Palmetto Park Road. It’s currently owned by Religious Science Unlimited, which has an 8,460-square-foot church there.

The application says the site is under contract to Jay Whelchel of Boca Raton-based Whelchel Partners.

Under the proposed site plan, the assisted living facility would total 135,238 square feet in three stories. It would have 120 units, with 128 beds.

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October 4, 2021/3 Comments/by admin

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