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| Rendering of Planned Watercrest of St. Lucie West Seniors Housing Community, Port St. Lucie, FL (Rendering by D2 Architecture) |
ATLANTA, GA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $32.15 million in joint
venture equity and construction financing for the development of Watercrest of St. Lucie West, a
128-unit, to-be-built seniors housing community located in Port St. Lucie,
Florida.
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| Ed Coco |
HFF worked on behalf of
the developer, Watercrest Senior Living Group, to arrange $11.15 million of
joint venture equity capital from a third party.
In addition, HFF secured
the $21 million construction loan for the partnership through Wells Fargo’s
Senior Housing Finance Group, a nationally focused specialty unit within Wells
Fargo’s Commercial Real Estate Platform.
Watercrest of St. Lucie
West will be situated on 5.3 acres at 279 NW California Boulevard to the east
of the intersection of Interstate 95 and SW St. Lucie West Boulevard and to the
west of Florida’s Turnpike and U.S. Highway 1.
Due for completion in
2017, the development will be approximately 50 miles north of West Palm Beach
and 30 miles south of Vero Beach along Florida’s Atlantic coast.
Amenities surrounding the
community include PGA Village Verano, a premier 3,000-acre golf community and
resort; Tradition Field, which is the spring training location for the New York
Mets; Tradition Medical Center; St. Lucie Medical Center; and numerous retail
attractions.
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| Ryan Maconachy |
Overlooking a tranquil, tree-lined lake, the
property will have 102 assisted living and 26 memory care apartments.
Community amenities will include three
chef-inspired and prepared daily meals, on-site salon and Spa W, swimming pool
with verandas, outdoor living spaces, in-unit laundry facilities and
kitchenettes, wellness and activity programs, medication management, health
screenings, daily transportation services and 24/7 licensed nursing in the
community.
The HFF equity and debt
placement team representing the developer was led by senior managing directors
Ed Coco, Ryan Maconachy and Chad Lavender.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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