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On November 19, the bankruptcy court approved $122 million in debtor-in-possession financing for CareMax, which includes $30.5 million in new funding and the conversion of $91.5 million in prepetition loans into super-priority DIP loans.
FiftyTwoNorth will operate as a life plan community, where residents pay an upfront fee for living and healthcare costs, plus a monthly maintenance fee. This model offers financial predictability for seniors.
The 144-bed facility is planned on 6 acres at 132 Moonbay Parkway near County Road 210 and Interstate 95.
The facility’s largest tenant is a Baptist Health South Florida outpatient surgery center.
This firm purchased the property through a real estate fund launched in August.