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This month, Health First will seek the support of the Brevard County Planning and Zoning Board and the Brevard County Commission for a series of zoning changes and related waivers that would allow the project to move forward.
Paul Ahmed and Mackenzie Lampman with CBRE Capital Markets worked on behalf of the borrower, a private investor, to arrange a seven-year, fixed-rate loan from Bank United.
The seller achieved 25% asset appreciation in 14 months with a strategic value-add plan.
The assisted living and memory care facilities are located in Boca Raton and Lantana.
This is the first healthcare office in the development and joins a growing number of businesses and restaurants opening in that area.