Big Rock Partners plans to build a Class A $60 million senior living community in Celebration, Fla. The company has closed on a nine-acre land purchase from The Celebration Co., and plans to launch construction of the senior living rental development in the first quarter of 2015.
The development will feature 225 rental residences and an array of luxury amenities. Construction is expected to be completed by mid-2016.
Sabra Health Care REIT provided Big Rock Partners with $4.5 million financing for the land transaction and anticipates providing additional financing for construction, according to Richard Ackerman, Big Rock Partners’ senior managing principal.
The architect is Perkins Eastman and the management company is Life Care Services. Finance advisor is Walker & Dunlop.
