MIAMI, FL – Belmont Village Senior Living, a nationally recognized developer, owner and operator of high quality seniors housing communities, and Baptist Health South Florida, the largest not-for-profit healthcare organization in the region, have received unanimous approval from the Coral Gables City Commission to build Belmont Village Coral Gables, a premier mixed-use senior living community located in the heart of Coral Gables.
As strategic and capital partners with Baptist Health South Florida, our joint venture was made to re-imagine the integration of hospitality and healthcare in seniors housing with Coral Gables being our first in a series of communities plotted for the region, said Patricia Will, co-founder and CEO of Houston-based Belmont Village Senior Living, which owns and operates 31 senior living communities nationwide and in Mexico City. We look forward to integrating our award-winning programs and high quality care to change the paradigm for senior living in South Florida.
A unique collaboration between two leading organizations, Belmont Village Coral Gables will offer residents luxury senior living, wellness, and first-class elder care within an urban, amenity-rich, and socially-focused setting. Located at 4111 Salzedo Street, just steps from the Shops at Merrick Park, the mixed-used development will encompass 232 private apartments for independent living, helped living and memory care and 18,388 square feet of ground floor retail and commercial space.
The 10-tale building, designed by Corwil Architects, will also feature a ground-floor Healthy Living Center by Baptist Health, bringing Baptist Health s focus on wellness to the Coral Gables community, as well as to residents of Belmont Village. Additional features of the development include a three-tale podium garage, courtyard, and landscaped pedestrian paseo.
Our partnership with Belmont Village is a natural fit as both organizations share the same dedication to providing high-quality, compassionate care, said Ana Lopez-Blazquez, executive vice president and chief strategy and transformation officer, Baptist Health South Florida. Together we have the potential to reinvent health and wellness for the senior population in our region.
Nestled in the heart of Coral Gables, directly across from the Shops at Merrick Park and within close proximity to the famed Miracle Mile and bustling Giralda Plaza, residents of Belmont Village Coral Gables will delight in the convenience of being located near shops and entertainment venues so they can maintain the active lifestyle that they are accustomed to within the City Gorgeous.
Additional amenities at the senior-focused community will include multiple dining venues, transportation services, a sports lounge, theater, arts parlor, library, beauty salon, fantastic room, screening room, music room, town hall, well-trained staff, including a licensed nurse on-site 24/7, and Belmont s signature leading edge enrichment and social programs, which are designed to keep residents active so they can thrive physically, socially and mentally.
Each Belmont Village community is built to purpose and licensed throughout the building to provide a blended model of care that offers flexibility for residents if needs change, and allows couples with varying health or cognitive needs to stay together. As a leader in developing university-led, research-based programs, Belmont Village offers residents a range of programs to support a Whole Brain Fitness lifestyle. This includes the Company s award-winning, comprehensive therapeutic program, Circle of Friends®, to specifically address the needs and abilities of residents with Mild Cognitive Impairment (MCI) and early stage memory loss.
Belmont Village Coral Gables is the first in a series of communities plotted by Baptist Health South Florida and Houston-based Belmont Village Senior Living, and is the second facility in Florida for Belmont Village. Belmont Village Fort Lauderdale, a new luxury senior living community on Seminole Drive encompassing 204 private apartments, is scheduled to open to residents early this summer.
Construction on Belmont Village Coral Gables is being handled by Moss Construction Management and is slated to start in the fall of 2020.

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SAN DIEGO, CA – Capstone Development Partners, a national student housing real estate developer specializing in on-campus public-private partnerships ( P3 ), announced it has closed on a traditional debt and equity financing for a new on-campus student housing community at San Diego State University.
Plotting for the development started in 2018. Despite the COVID-19 pandemic that impacted many municipalities, businesses and financial institutions, the development team is proud to have achieved this milestone in light of the many hurdles it overcame.
Bruce McKee, Principal at Capstone, stated, I want to thank all of our teammates for their hard work and steadfast dedication to get this project closed and under construction despite all of the challenges we have faced over the past several months. I m excited to see the Project address the ongoing need for more cost effective housing options for students at SDSU.
Capstone, along with its architect JWDA Architects and builder Cannon Constructors, Inc, collaborated with the San Diego State University Research Foundation s ( Foundation ) project stakeholders on the plotting, programming and design of the new apartment community to ensure the Project s program meets the University s goals and objectives relative to upper-division and graduate student housing options at and around San Diego State University.
The Project, named VIVA 5750, will be located on land ground leased to Capstone by the Foundation and will serve as a cornerstone to the University s southern gateway entrance at Montezuma Road and Campanile Drive. The 4-tale, 80,000 SF community will house approximately 182 students in a mixture of apartment-style units and will include a mix of indoor and outdoor amenities.
This is Capstone s second P3 partnership with the Foundation, having developed the M @ College student housing facility in 2018. While the ‘M primarily serves as housing for sophomore students, this project will provide a much needed new housing option for upper-division and graduate students as they matriculate through their studies at SDSU.
The Project will have a total development cost of approximately $23.5 Million.
Construction of the Project commenced in May 2020 and is scheduled to open for the Fall 2021 semester.

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NEW YORK, NY – Trepp, a leading provider of information, analytics, and technology to the structured finance, commercial real estate, and banking markets, has released the May 2020 U.S. CMBS Delinquency Report.
The report revealed that the delinquency rate saw the largest increase since Trepp started tracking this metric in 2009.
The surge in CMBS delinquencies that most industry watchers were anticipating came through in May – but the size of the jump surprised to the downside.
In April 2020, Trepp s CMBS Delinquency Rate registered at 2.29%. About 8% of loans by balance missed their April loan payments as we noted in last month s delinquency report. If all of those loans became 30 days delinquent in May, the rate would have topped 10% which would have threatened the all-time high recorded in 2012.
Many of the loans that were in the grace or beyond-grace period either stayed in that category or reverted to current, keeping the jump in the delinquency rate from being worse.
“Nearly 5% of May’s delinquency rate is represented by loans in the 30-day delinquent bucket,” said Trepp Senior Managing Director, Manus Clancy. “Given that about 8% of loans had missed payments for the April remittance cycle, the fact that delinquencies went up less than 5% has to be viewed as a small win. ‘
The numbers could head higher in June considering that about 7.6% of loans by balance missed the May payment but remained less than 30 days delinquent.
For additional details, such as historical comparisons, analysis on all major property types, an overview of loans newly specially serviced, and the status of loans in grace period or beyond, download Trepp s May 2020 CMBS Delinquency Report.

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