Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect Daily to stay informed and save time. Connect Daily is our email publication that provides you with the latest and most relevant CRE stories of the day all in 150 words or less.

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast  + South Florida  + Healthcare  | 

Seniors Development Lands Construction Loan in Delray Beach

As exclusive advisor to a joint venture between Alliance Residential Company and a global institutional real estate manager, Newmark secured a construction loan for the development of Holden of Boca/Delray in Delray Beach, FL. 

Financial terms weren’t disclosed. The development project is a Class A, 187-unit seniors housing project slated to break ground later this month.

Newmark managing director Sarah Anderson, co-heads and vice chairmen of the company’s Healthcare and Alternative Real Assets group Ryan Maconachy and Chad Lavender, senior managing director David Fasano and managing director Ross Sanders represented the borrower in the financing efforts. The construction loan was provided by a bank lender.

The community will be operated by the Atlanta-based Arbor Company.

“With approximately 20,000 age- and income-qualified individuals within a 15-minute drive of the development site, Holden of Boca/Delray will benefit from the incoming wave of pent-up demand for seniors housing,” said Anderson.

Connect

Inside The Story

connect with Newmark's Anderson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

  • ◦Financing
New call-to-action
New call-to-action