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Florida & Gulf Coast  + Senior Housing  |  October 22, 2019
David Cohen
By: David Cohen

Capital One Provides $109M Acquisition Loan for South Florida Senior Housing Portfolio

Capital One provided a $108.9 million loan to a joint venture owned by Sino-Ocean Capital and Meridian Senior Living for the acquisition of a two-property senior housing portfolio in South Florida. Additional proceeds of the loan will be used to refinance a Capital One loan that the sponsors used to purchase three senior housing communities in California.

The Florida properties include the 106-unit Symphony at the Waterways in Ft. Lauderdale, and the 132-unit Symphony of Boca Raton.

“The crossed pool of assets enabled us to provide very competitive pricing and terms,” said Dana Scheppmann of Capital One Healthcare Real Estate. “Going forward, the loan structure will enable Sino-Ocean and Meridian to add or release properties as they continue to expand their portfolio nationwide.”

For comments, questions or concerns, please contact David Cohen

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Connect With Capital One’s ScheppmannConnect With Meridian Senior LivingConnect With Sino-Ocean Capital

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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