In December 2024, JDI Realty funded a $9.5 million loan to a local investor to acquire a 77-unit apartment building in Bradenton, Florida. Originally built in 1992, this property was the senior independent living component of a well-established continuing care retirement community. After closing during the Covid pandemic, the owner spent two years securing entitlements to convert it into an all-age apartment building. The property boasts high ceilings, spacious apartments averaging over 1,200 square feet, and glass-enclosed balconies. JDI’s loan will also support a multi-million dollar renovation, showcasing our ability to underwrite opportunistic acquisitions, change of use, and renovations while maintaining a low loan basis per apartment.
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