Mon Sep 23 21:25:26 UTC 2024: ## United Group of Companies Secures $54.5 Million in Financing for Sarasota Senior Living Community
**Sarasota, FL** – United Group of Companies, a New York-based developer specializing in senior housing, has secured $54.5 million in bridge financing for its luxury senior living community, Alloro at University Groves. The financing was provided by LoanCore Capital, with Aztec Group serving as the deal’s source and structuring advisor.
Alloro at University Groves, located on a seven-acre site in Sarasota, opened its doors in 2023 and offers 183 units for residents aged 55 and over. The community boasts a wide array of amenities, including a spacious clubhouse, fitness center, yoga studio, movie theater, pickleball courts, pool, spa, dog park, and on-site dining.
“We sourced multiple proposals for this exceptional senior housing property,” said Peter Mekras, president of Aztec Group. “We worked closely with the sponsors to select the capital source that could move swiftly and fully understand the unique attributes of this age-restricted community.”
Alloro’s prime location, within five miles of 14 million square feet of retail, including the popular Mall at University Town Center, further enhances its appeal.
United Group of Companies, established in 1972, has a strong track record in developing senior housing, student housing, and market-rate multifamily housing. This latest financing underscores the company’s continued commitment to providing high-quality living options for seniors in desirable locations.
First Piper 