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Florida & Gulf Coast  + South Florida  + Senior Housing  |  April 22, 2021
David Cohen
By: David Cohen

BHI Arranges $42M Construction Loan for Senior Living Facility in Miami

BHI Healthcare Group has arranged a $42 million construction loan for the Oasis at Coral Reef, a new, 217,123-square-foot luxury senior living facility under development in Miami.

BHI has provided financing of $31,860,000 and Coastal States Bank $10 million. The borrower is Royal Senior Care, which owns and operates senior living facilities in the Southeastern United States with a primary focus in South Florida.

The Oasis at Coral Reef will offer a total of 201 catered living, assisted living and memory care units in three buildings spread over a nearly nine-acre campus. Royal Senior Care facilities feature gourmet restaurant-style dining, boutique hotel décor and a variety of luxury amenities.

“We regard healthcare as a highly strategic vertical within BHI,” said Gil Karni, CEO at BHI. “We are committed to the future of this growing sector and to supporting our healthcare clients such as Royal Senior Care.”

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Inside The Story

BHI’s Karni

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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