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Tampa senior living firm sues its bank, alleging it improperly seeks to dump loan

Claiming its bank wants to leave the market, a Tampa Bay elder care company seeks federal relief.

  • By Jim Stinson
  • | 3:15 p.m. November 29, 2023
  • | 0 Free Articles Remaining!
Most of the residents at Inspired Living Alpharetta have Alzheimer's disease.
Most of the residents at Inspired Living Alpharetta have Alzheimer's disease.
Courtesy image
  • Tampa Bay-Lakeland
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Tampa-based entrepreneur Mario Garcia Jr. and his company, Validus Senior Living of Tampa, filed a federal lawsuit against financial services giant Truist bank.  

Garcia alleges the bank has improperly demanded full payment for an $83 million loan based on a single faulty appraisal, even though Validus has never missed a payment, the company says in a Wednesday news release.

Validus Senior Living says the issue revolves around an appraisal of the Validus Senior Living facility in Georgia — named Inspired Living Alpharetta — where most of the residents suffer from Alzheimer's disease.

 

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