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Florida & Gulf Coast  + Gulf Coast  + Senior Housing  |  August 6, 2026
Alloro
Mike Boyd
By: Mike Boyd

United Group Obtains $52M Refi on Sarasota 55+ Rental Community

The United Group of Companies closed on a $52 million loan to refinance Alloro at University Groves, a 55+ apartment community at 3540 Broadway Ave, in Sarasota, Florida.

A Walker & Dunlop Capital Markets Real Estate Finance team led by Walker Layne, Matthew Wallach, Stephen West, Austin Sneed, and Tyler Evenson arranged the floating-rate, interest-only bridge loan provided by Bridge Investment Group on behalf of The United Group.

The 183-unit active adult apartment community features one- and two-bedroom apartment homes, along with penthouse units designed for residents 55 and older featuring open floor plans, balconies, soft close cabinets, granite countertops, and stainless-steel appliances.

The community offers resort-style amenities including a clubhouse, theater, salon, fitness center, pool, pickle ball and bocce courts, along with the SUN Lifestyle Program.

Completed in Q4 2023, The United Group asserts that Alloro is the only purpose-built 55+ rental community in North Sarasota with no competing age-restricted multifamily developments planned.

 

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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