The construction financing will fund the firm’s 217,123-square-foot, luxury senior living development, which will span three buildings and 201 units.
Doctors and medical professionals have remained on time with their rent payments in the past year, unlike other office tenants, the Wall Street Journal reported. While some tenants have paid less than 85 percent of rent collections, medical professionals have paid 95 percent of rent owed.
The campus’ planned location is on an 87-acre parcel near the intersection of State Highway 79 and Phillip Griffitts Sr. Parkway.
No one is under contract to buy the properties, which feature roughly 38,000 square feet of commercial space.
Chelminsky’s latest purchase follows his acquisition in October of the two-tower office complex Concept II in Lake Worth Beach for $10.9 million.