The Alloro at University Groves
Offering Start Date: Amended January 6, 2020
Location: Sarasota, FL
Development Type: 183 Unit Independent Living Lite, 55+ Class A Senior Housing Rental Community
Total Raise: $13,300,000
Investment Units: $100,000 (133 available)
Minimum Investment: $50,000
Preferred Return: 8%
Projected IRR: To be provided in offering materials
Issuer: US Senior, LLC
Developer: United Development Corporation
Operator: United Plus Property Management, LLC
Eligible Investors: Accredited-only
The Alloro at University Groves is a 183-unit senior market rate rental community proposed for a 5+ acre site located on 3540 Broadway Avenue in Sarasota, Florida (Sarasota County).
The apartments will be in two three-story elevator equipped buildings with open corridors. There will be 90 one-bedroom units ranging in size from 708 to 1038 sq. ft, and 93 two-bedroom units ranging in size from 1,081 to 2,229 sq. ft. The spacious apartments will have nine foot ceiling heights, luxury vinyl plank flooring, ceramic tile bathrooms with some double bowl vanities, elegant kitchens with granite counter tops, task lighting, high quality cabinetry, and stainless steel appliances consisting of side-by-side refrigerators with water/ice in door, range, microwave range hood, dishwasher, and disposal. Each apartment will be equipped with a washer and dryer. All apartments will have a screened patio or balcony with sliding glass doors. The apartments will be equipped with energy efficient heating/cooling systems, appliances, and ceiling fans.