HFF announces $16.699M in joint venture equity for Sarasota seniors housing development
DALLAS, TX – March 20, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces $16.699 million in joint venture equity for the development of Grand Living at Lakewood Ranch, a best-in-class, 172-unit resort-style seniors housing community in the Lakewood Ranch area of Sarasota, Florida.
The HFF team worked on behalf of the developer, Ryan Companies, US Inc., to arrange a joint venture equity partnership with Eagle Realty Group, LLC.
Grand Living at Lakewood Ranch will be situated on 5.02 acres at 7230 University Parkway in the 8,500-acre Lakewood Ranch master planned community. The resort-style community will comprise 82 independent living units, 56 assisted living units and 34 memory care units totaling 124,463 rentable square feet. The independent and assisted living component will feature luxury finishes, including stainless appliances, granite countertops, in-unit washers and dryers, faux wood plank flooring, balconies and fireplaces. Community amenities will include a variety of dining options; clubroom with fireplace, bar and liquor lockers; grand lounge area; library; performance theater; and wellness spa and fitness area featuring an outdoor pool, state-of-the-art fitness equipment, yoga and group fitness room, salon and massage/exam rooms for rotating wellness providers. The Memory Care Commons will offer a secure courtyard, lounge and living room along with a dedicated kitchen and dining venue. Completion is expected in 2019.
The HFF team representing the developer included senior director David Fasano, director Sarah Anderson and senior managing directors Ryan Maconachy and Chad Lavender.
About Ryan Companies, US Inc.
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. Ryan’s market depth includes retail, industrial, healthcare and senior living. Ryan development and corporate build-to-suit work spans a wide range of product types, including office, mixed-use, hospitality, multifamily housing and student housing. Ryan has nearly 1,300 employees in 13 offices across the U.S. and has completed projects in 38 states. For more information, visit: ryancompanies.com.
About Eagle Realty Group, Inc.
Eagle Realty Group (Eagle), a member of the Western & Southern Financial Group, is a real estate capital provider and property management company based in Cincinnati, Ohio. Eagle oversees a diverse real estate debt and equity investment portfolio on behalf of the member companies of Western & Southern. The company’s financial products include equity joint ventures, and mortgage and mezzanine loans for institutional-quality assets. Property types vary by portfolio, and include office/medical office, multifamily, retail, industrial, senior housing and hospitality.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.