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United Group Receives $32M Construction Loan for Active Adult Community in Stuart, Florida

STUART, Fla. — The United Group of Companies Inc. has received a $32 million construction loan from Knighthead Funding for The Sovana at Stuart, an active adult development in Stuart.

The Class A community will feature one- and two-bedroom floor plans ranging from 710 to 1,410 square feet. The number of units was not disclosed.

The Sovana at Stuart will also feature an 8,000-square-foot community clubhouse with a living room, fireplace, pantry kitchen, game room, arts and crafts room, media center, fitness center and private salon.

The United Group’s affiliate, United Plus Property Management, will operate the community upon completion. Verdex Construction from West Palm Beach is the general contractor for the project, and construction work has already commenced.

The clubhouse and first residential building are scheduled to open in the third quarter of 2021.

The post United Group Receives $32M Construction Loan for Active Adult Community in Stuart, Florida appeared first on Seniors Housing Business.

Source: Senior Housing Business

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