- February 7, 2026
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Affordable housing project secures financing
Legacy Park II, a new $55 million affordable housing community for seniors, has secured its financing. It includes a $29 million construction loan provided by Fifth Third Bank; $22.96 million in Low-Income Housing Tax Credit equity through Raymond James; an $11.83 million permanent loan from Freddie Mac through Grandbridge Real Estate Capital; $10.27 million in Community Development Block Grant Disaster Recovery funding from Lee County; and $8.95 million in Rental Recovery Loan Program and Extremely Low-Income loans from the Florida Housing Finance Corp. The 130-unit community at 2650 Oak Ridge Court and 2685 Oak Ridge Court will have two five-story buildings. Apartments will feature quartz countertops, vinyl plank flooring and stainless-steel appliances. Certain units will be reserved for households with special needs. Legacy Park II is being built by Miami-based developer Housing Trust Group along with AM Affordable Housing, founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning.
New, bigger facility for medical practice
Premier Women’s Care of Southwest Florida has opened a 40,797-square-foot medical office building in Cape Coral — moving out of a space it occupied for about 30 years. The women’s health care practice’s new medical center is at 1606 Santa Barbara Blvd. and replaces the existing one in the city. Two Fort Myers offices — on Park Royal Drive and in The Forum — will continue operating. Premier Women’s Care new facility, which sits on 2.27 acres, will feature three ultrasound suites, 3D mammography with changing rooms, offices, an elevator and covered parking. The second floor will house exam and procedure rooms, phlebotomy, consultation rooms, offices, storage and a breakroom. The new space will be more than twice as large as the 13,000-square-foot Viscaya Parkway office, which had been the practice’s home going back to when the founding physicians of Premier Women’s Care were part of Physicians’ Primary Care. (Premier Women’s Care of Southwest Florida began Jan. 1, 2019.)
Office building sells for nearly $6 million
Northside Square, an office building near Countryside Mall in Clearwater, has sold. The building at 29399 U.S. Highway 19 N. traded for $5.8 million. Marcus & Millichap, which represented the New Jersey sellers, Melrose Clearwater Holdings and Solomon Clearwater Holdings, declined to name the buyer in a statement and follow up email. Pinellas County records have not been updated. The sellers, according to state Division of Corporation and Pinellas County property records, are based in Tenafly, New Jersey, just across the state line from New York near Yonkers. The entity paid $1.93 million for the building in 2022. Northside Square is a 49,944-square-foot, three-story office building that sits on 3.13 acres along one of the busiest commercial strips in the county. It is just north of Countryside Mall and south of Curlew Road. The building has 158 covered parking spaces and was 96% occupied at the time of sale. Marcus & Millichap’s Alex Zylberglait and Michael Crocchiola represented the sellers.
$250 million refinance on multifamily projects has local ties
A 320-unit apartment and townhouse community outside Tampa is part of the $253.65 million construction take out financing package of a five-property multifamily portfolio. The community is Rise Sereno off of U.S. 301 in Wimauma. Its portion of the refinancing package was $58.5 million. The other recently completed communities are in Colorado Springs, Atlanta and two in Nashville. The portfolio is owned across several funds belonging to Origin Investments out of Chicago. Terms of the financing were not disclosed.
Schools sells excess land to homebuilder
The private school Academy at the Lakes has sold a 40-acre parcel in Pasco County to a homebuilder that plans to build townhouses on the site. The property on Collier Parkway sold for $10.68 million. The buyer is suburban Washington, D.C. based Stanley Martin Homes, which plans to build 176 townhouses on the Land O’Lakes property. Jack Koehler and Bill Eshenbaugh of the Eshenbaugh Land Co. represented Academy at the Lakes in the sale. Koehler, in an email, writes that the sale did not include any portions of the campus and that the school sold off acreage “it didn’t need.” Proceeds from the sale will go toward a future expansion on several parcels east of the current school.
Landmark hotel torn down
A new development in downtown Sarasota has taken a big step forward with an even bigger demolition: the Hyatt Regency, after more than 50 years as a landmark waterfront property just off U.S. 41, has been totally torn down. Delray Beach-based developer Kolter Urban is overseeing the redevelopment project, which will encompass two condominium buildings, one of which will include a new hotel and restaurant. At the corner of Boulevard of the Arts and Quay Commons, 1000 Boulevard of the Arts will feature condominiums on both the harbor and the bay side, with floor plans ranging from 1,200 to more than 3,000 square feet. Prices start at $1.4 million. Delivery is expected in the second half of 2028. In addition to the 20-story tower containing the 117-unit condo building and 174-room hotel, Kolter Urban plans to develop a separate residential tower along Boulevard of the Arts. That will be located where the Hyatt Regency once was.
Hotel near Siesta Key sells
A 97-room Comfort Inn west of Interstate 75 off Clark Road in Sarasota has sold. The three-story hotel is at 5690 Honore Ave. Marcus & Millichap announced the deal but did not disclose the buyer or sales price, saying only that it was “an established owner-operator with a strong presence in Florida.” Sarasota County property records show the buyer is a Melbourne LLC, which paid $14.5 million for it. The property's previous owner was a Sarasota LLC that paid $1.4 million for it in 2012. The Comfort Inn was built in 2013 and sits on about 3.72 acres. Marcus & Millichap’s Robert Hunter and Leo Reilly represented the seller and found the buyer.
Office park for sale
The Barrington Professional Center, a Sarasota office park, is up for sale. The property is at 2910-2946 University Parkway, on the Sarasota-Manatee line. It is made up of four freestanding buildings that have eight tenants with, the listing says, rents that are “a little bit under market.” The asking price is $4.9 million. The current owner is Lakewood Ranch-based Ballen Inc. which paid $2.22 million for it in 2002. The property is being marketed by Eric Massey at MSC Commercial.
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