Kronos Capital buys land to create InspiredLiving at Lakewood Ranch

BUYER: Lakewood Ranch Senior Care LLC (principal: Mark Bouldin), St. Petersburg
SELLER: Lesley Investments LLC
PROPERTY: 4503, 5404, 5414, 5424, 5425, 5434, 5444 and 5455 Lena Road, Bradenton
PRICE: $4 million
LAW FIRM ON DEED: Bouldin & Associates PA, St. Petersburg

PLANS, DESCRIPTION:
St. Petersburg attorney Mark Bouldin's Kronos Capital purchased about 10 acres just east of Interstate 75 for $4 million.

Kronos Capital has hired NDC Construction Co. to build a three-story, 99,500-square-foot, assisted-living and memory care facility. The development will create a total of 122 units and 148 beds.

Once the project is completed, Tampa-based Validus Senior Living will own and operate the facility.

“They are scheduled for completion this time next year,” says Steve Benjamin, CEO of Validus Senior Living. “We will be preselling sometime in the fall.”

Benjamin says the community will feature a wellness station, beauty and barbershops, a large dining room, swimming pool and a fitness center. The property will also include a fishing pier on a 3-acre lake with walking paths surrounding it and a pet park.

The development will feature a three-story wing for assisted-living residential space and a one-story common area that connects to single-story memory care area with 43 suites. It is being called InspiredLiving at Lakewood Ranch.

Validus Senior Living was attracted the property by the demographics, affluence and quick growth of Lakewood Ranch, Benjamin says.

The purchase entity, Lakewood Ranch Senior Care LLC, mortgaged the property to Branch Banking and Trust Co. for $16.45 million.