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Developers Obtain $64 Million Construction Loan For Aventura Multifamily Project

Belmont Village Senior Living Aventura 1170x435

Belmont Village and Turnberry Associates obtained a $64.21 million construction loan to build a senior living facility in Aventura.

Parcel U / SR-1 Trust LLC, an affiliate of Aventura-based Turnberry Associates and the Soffer family, sold the 1.4-acre site at the southeast corner of East Country Club Drive and Yacht Club Way for $8 million to Belmont Village Aventura Property Owner, a joint venture between Houston-based Belmont Village and Turnberry.

Synovus Bank provided the construction loan.

The developers filed plans for Belmont Village Senior Living Aventura in early 2022. It was ultimately approved for 184 senior living beds. Amenities would include a dining room, a sports lounge, a wellness room, a library, an arts and crafts room, and a salon.

 

Source:  SFBJ

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