Later this year, construction will be completed for the expansion of more than 300,000 square feet and four floors of added care.
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.