Town Lane Picks Up Two Gulf Coast Senior Housing Centers

Town Lane Picks Up Two Gulf Coast Senior Housing Centers
News| July 2, 2025| Mike Boyd
Florida & Gulf Coast

Town Lane acquired two Class A Independent Living communities in Naples and Sarasota. Each is co-located on campuses with Assisted Living / Memory Care facilities (AL/MC). Both communities, comprising 373 units in total, were recently built, with Naples opening in 2020 and Sarasota opening in 2022.

The Naples and Sarasota properties are supported by favorable demographic trends, including robust net in-migration and sustained growth in the 75+ and 85+ age groups. Discovery Village Naples offers proximity to lifestyle amenities including grocery-anchored retail, luxury resorts, and healthcare facilities. Discovery Village Sarasota Bay (photo) is located alongside the Sarasota Bay inlet and 10 minutes from the Sarasota International Airport. The communities offer amenities including restaurant-style dining rooms, outdoor courtyards and pools, fitness and rehab spaces, theatres and beauty salons.

Discovery Senior Living, which also operates the co-located AL/MC communities, will continue to operate and lease the portfolio.

Other News

Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap

Apartment Buildings

Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...

Learn more

Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap

Apartment Buildings

An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...

Learn more

Revere, MA Weighs 1,700-Unit Housing Project

Boston & New England + Apartment Buildings

The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up