Tampa senior living firm sues its bank, alleging it improperly seeks to dump loan

Claiming its bank wants to leave the market, a Tampa Bay elder care company seeks federal relief.

By Jim Stinson
| 3:15 p.m. November 29, 2023
| 0 Free Articles Remaining!

Most of the residents at Inspired Living Alpharetta have Alzheimer's disease.

Tampa Bay-Lakeland

Tampa-based entrepreneur Mario Garcia Jr. and his company, Validus Senior Living of Tampa, filed a federal lawsuit against financial services giant Truist bank.

Garcia alleges the bank has improperly demanded full payment for an $83 million loan based on a single faulty appraisal, even though Validus has never missed a payment, the company says in a Wednesday news release.

Validus Senior Living says the issue revolves around an appraisal of the Validus Senior Living facility in Georgia — named Inspired Living Alpharetta — where most of the residents suffer from Alzheimer's disease.