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Developer Obtains $46M Loan To Build Senior Living Project In Coral Gables

assisted living facility at 1000 ponce de leon blvd. in coral gables 760x320

Sunrise Senior Living obtained a $45.77 million construction loan to build an assisted living facility in Coral Gables.

Regions Bank provided the mortgage to Sunrise of Coral Gables Propco LLC, an affiliate of McLean, Virginia-based Sunrise Senior Living. It covers the 23,469-square-foot site at 1000 Ponce de Leon Blvd.

The developer purchased the land for $8.1 million in 2019 and subsequently demolished an office building.

Designed by Coral Gables-based Behar Font & Partners, the six-story project will feature 94 rooms with 118 beds of assisted living. Amenities would include a lounge, an entertainment room, activity rooms, a rooftop garden, a hair salon, a dining room and a staff kitchen.

Source: SFBJ

September 6, 2022/by ADMIN

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