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Capital One Provides Financing for 182-Unit Heartis Venice

Caddis, a healthcare real estate investment, development and management firm, secured $35.7 million construction loan with Capital One to help fund its Tampa-area senior housing project, dubbed Heartis Venice.

Located at 1199 S. Tamiami Trail in Venice, Florida, the three-story Heartis Venice is set to total 190,000 square feet and include 182 independent living, assisted living and memory care apartment units.

Heartis Venice’s amenities is set to include large secured courtyards, game and activity rooms, a beauty and barber shop, and expansive common areas. Services that will be offered at Heartis Venice include a community shuttle service, nurse-supervised staff, 24-hour emergency call system, housekeeping and laundry services, and assistance with personal activities.

Caddis has introduced 20 different properties under its Heartis brand since 2013. The Dallas-based firm is set to begin construction on Heartis Venice this spring and is planned to be completed by summer 2020.

Lantz-Boggio, headquartered in Greenwood Village, Colorado, is the project’s architect and Marietta, Georgia-based Freese Johnson is the project’s general contractor.

This information was originally written & published on FEBRUARY 13, 2019|by CARLOS LIKINS of The CoStar Group https://product.costar.com/home/news/832610340?market=39