Sarasota Floridian LLC, led by developer Larry Lieberman of the Barrington Group and builder Fred Starling of the Starling Group have locked up a $44.8 million loan to finance the construction of a new residential community in Southwest Florida. Geared towards baby boomers, The Floridian Club of Sarasota will feature 309 units of which 261 will be single-story attached villas along with 48 three-story units served by elevator. The gated community will include a pool with a separate lap pool, pickleball courts, guest suites and walking/running trails that encircle a conservation area. The loan, which closed Thursday, February 1st, was originated by Trez Forman’s Ben Jacobson.
All of the units are available for long-term leases between 2 and 10 years. The program is targeting baby boomers, though there are no age restrictions. A recent report from Harvard University indicated through 2035, 1.6 million older-adult households will move into rental properties each year compared to 825,000 who will choose to own.
“We are bullish on housing aimed at baby boomers,” said Brett Forman, CEO of Trez Forman. “As more and more enter retirement, they will be looking for lifestyles like the one The Floridian Club offers. And many people in this older demographic will be more interested in renting vs owning like they have in years past.”
