Senior Housing
Villages of Windsor, Boynton Beach, FL
Size: 318 units
Mix: 186 independent living, 78 assisted living, 54 memory care.
Location: Hypoluxo Rd. at Lyons, Rd., major N/S and E/W roadways
Site: 22 acres
Cost: $105.8 million
Financing: Wells Fargo construction loan

This project presents a rare opportunity in a prime market with high unmet demand. The site's large size and approved zoning make it almost impossible to replicate in South Florida. Big Rock has entered into a management agreement with Atria Senior Living to manage the property. The project owned by a JV between BRP and Ventas, which is representing the State of Arizona's pension plan in the investment. It will be one of the first direct public pension plan investments in senior housing. BRP receives incentive compensation in the form of a promoted interest upon exceeding various hurdle rates. The architect is Gensler and the contractor is Moss Construction. A guaranteed maximum contract with Moss has been executed.