Sage Park consists of a 3-story Class A assisted living and memory care building containing 128 senior living units developed on 3.36 acres in Kissimmee, Florida. The property is located off John Young Parkway with easy access to Florida Turnpike, FL-417, and Interstate 4. Within a 1-mile radius is 1.0+ million SF of retail and 2,000 apartment units. Westminster Realty Partners II LP owns a joint-venture interest in this development alongside Providence One, an experienced regional senior living developer, and Watercrest Senior Living, a Florida based operator. Westminster Realty Partners II LP committed $8.6 million of equity, with construction financing provided by Renasant Bank.
About Westminster Capital
Westminster Capital manages real estate investment strategies on behalf of private wealth capital, including sponsorship of closed-end investment funds and separate account portfolios totaling $860 million of investor capital. Westminster Capital makes commercial property investments throughout the United States across Industrial/Distribution, Apartments, Medical Office and Senior Living properties offering Value-Add to Opportunistic risk-reward returns. Such work includes rebuilding income streams of existing properties, or manufacturing them through new construction. The firm employs careful investment underwriting and pursues well-funded tenants motivated by powerful, long-term secular trends in their needs for such properties. Founded in 1988, the firm is headquartered in Lake Forest, Illinois.