Watercrest of Lake Nona Assisted Living and Memory Care community would be the first development project for a new $500 million joint venture of Watercrest Senior Living Group and Index International AB.
Elevation courtesy of Watercrest Senior Living Group
Index International strikes $500M development deal with Watercrest Senior Living
By Murray W. Wolf
Watercrest Senior Living Group, a Vero Beach, Fla.-based real estate developer and operator, and Index International AB, a Stockholm, Sweden-based investment firm, say they have finalized a $500 million, five-year partnership to co-develop senior living communities across the United States.
The partners say they will begin with projects in Florida and the Southeast, then expand nationwide. They say they have six or seven projects in the pipeline with at least four planned to break ground this year. They plan to develop four to six projects per year, ranging from 60 to 150 units each. The communities will include assisted living, memory care or both.
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