Fairway Pines – Sebring, FL
On July 23, 2016, MDG closed on a senior housing transaction (Rosecastle of Wildwood), a 96-Unit Assisted Living Facility with a substantial Memory Care component adjoining The Villages, Florida. This project consists of 96,000 s.f., with a development budget of $25M. MDG procured the land, oversaw the design of the project, and procured all of the entitlements necessary to get a building permit for the ALF.
MDG then assigned all of its rights to the land and development work product to an entity owned by a substantial family office and an experienced management company in exchange for the reimbursement for all monies spent on design and entitlements plus a substantial development fee.