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Capital One Provides a $35.7MM Construction Loan for Florida Senior Living Community

February 12, 2019, 09:00 AM
Filed Under: Real Estate

Capital One announced that it provided a $35.7 million loan to Caddis®, as the project sponsor, to finance the construction of Heartis® Venice, a 191,000 square foot, 182-unit, three-story seniors housing community in Venice, Florida. The new community will be managed by Solvere Living, a St. Petersburg, Florida based firm. The architect is Lantz-Boggio, headquartered in Greenwood Village, Colo., and the general contractor is Marietta, Georgia-based Freese Johnson.

“This transaction is an indication of the breadth of services we can offer our healthcare clients when the right opportunity presents itself,” said Keith Kodrin, Senior Vice President, Capital One Healthcare Real Estate. “Heartis Venice will be a Class A property in a market where the demand for seniors housing is growing.”

In 2018, Capital One financed Caddis’ acquisition of a medical office building portfolio. “We’ve worked successfully in the past with Capital One on a medical office loan and knew we could turn to them to provide the best financing solution for this project,” said Jason L. Signor, CEO and Partner of Caddis.  

Caddis®, a healthcare real estate investment, development, and management firm based in Dallas, has introduced 20 assets under its Heartis brand since 2013.  Heartis Venice will offer independent living, assisted living, and memory care. In addition to expansive views of Roberts Bay from the property, the community will offer several attractive amenities including large secured courtyards, game and activity rooms, a beauty and barber shop, and expansive common areas.

Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.  

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