Architect Manuel Synalovski, who presented the plans, told the Davie Town Council that the need is pressing—Broward County currently offers about 9,600 assisted living beds, yet nearly 360,000 residents, or 18% of its population, require this type of care.
The transaction closed at $650 per square foot—one of the highest prices seen in the Kendall office submarket.
These acquisitions highlight steady demand for senior living and healthcare assets in South Florida, where an aging population continues to fuel resilience in the sector despite higher interest rates and inflation.
Once complete, Sarasota Memorial Hospital–North Port will stand nine stories tall with 100 inpatient beds, while the adjoining medical office building will span three stories.
While the Sarasota County Property Appraiser valued the land at about $430,000, the city sold it to Woodwater for $50,000. Under the deal, the buyer must handle all environmental remediation—an extensive and costly process.