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.
The project would cost about $16 million and construction should take about a year.