Senior housing is once again making headlines — this time in Inverness, Florida.
Kennedy Funding closed a $3.725 million loan for the purchase of Crown Court, a 120-year-old senior housing facility in Inverness, Florida.
The deal positions the property for renovations as demand for assisted living grows.
Why it matters:
Florida is home to more than 900,000 residents 80 and older, making senior housing one of the state’s most pressing needs. With only 4,000 new units expected over the next two years and 100,000 needed annually, facilities like Crown Court illustrate the scale of the opportunity and the urgency facing the sector.
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What happened
Vseva Crown Court LLC acquired the 0.697-acre property with financing from Kennedy Funding, a direct private lender known for rapid closings.
“The Crown Court community is known for providing high-quality care and the planned improvements will make this facility even better for its residents,” said Chase Wolfer, a loan officer at Kennedy. “Securing this loan so quickly for a project this important is exactly why borrowers turn to Kennedy when they need funding in a short turnaround time.”
Crown Court sits about 75 miles north of Tampa near parks, restaurants and health care centers. The borrower plans to upgrade the aging facility to better serve residents and position it for long-term demand.
Why it matters
The Inverness acquisition underscores two larger shifts in Florida’s real estate market:
- Senior housing is an investment hotspot. With supply lagging far behind demand, opportunities exist in secondary markets across the state.
- Private capital is reshaping deals. Kennedy Funding’s ability to close loans in days, rather than months, gives developers an advantage in fast-moving markets.
“Time is money when it comes to commercial real estate projects and, with traditional lenders, the lengthy funding process stalls work on the kind of renovations Crown Court wants to make,” said Kevin Wolfer, CEO of Kennedy Funding.
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What’s next
Developers and investors are expected to examine aging facilities across Florida that can be repositioned for senior living use. Bridge loans and other private financing options are likely to remain in demand as traditional banks struggle to keep pace with the rapid pace of projects.
The Crown Court acquisition reflects both the pressure and the potential within Florida’s senior housing market. For Tampa Bay’s business community, the facility serves as a reminder that demographic shifts are creating both urgent demand and significant opportunities.
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