A Squire Sanders team is currently involved in a US$250 million senior life care community development project, which broke ground on January 28, 2014. The Sinai Residences of Boca Raton and the Jewish Federation of South Palm Beach County anticipate the opening of Life Care Community in 2015. The sponsor has been working on the project since 2007 and features 237 luxury units – of which 70 percent are already reserved. Construction is expected to begin within the next month and closing of the financing should occur this spring.
The interdisciplinary, multi-office Squire Sanders team was led by Bob Labes and John Thomas, and included Pedro Hernandez and Sandy MacLennan providing bond counsel advice; Jeff Butt and Greg Young advising on real estate issues; and Bob Eidnier and John Hutchinson providing tax support.
In addition to Squire Sanders, the Sinai Residences development team is by Greenbrier Development of Dallas, Texas, and includes Suffolk Construction, Perkins-Eastman Architects, H.J. Sims & Co. investment bankers, Land Design South landscape architects, and The Wantman Group engineers.