Citadel Care Centers Lands $51M to Build Nursing Facility Near Aventura
By Julia Echikson August 26, 2026 12:55 pm
reprints
Citadel Care Centers broke ground on a skilled nursing facility in North Miami Beach, Fla., after securing a $50.9 million loan, property records show.
The financing from PNC Bank covers a 3.2-acre site, occupying a full block at 1875 and 1800 Northeast 167th Street, adjacent to Northeast 19th Avenue, about three miles south of Aventura. The new development will rise four stories and include a parking garage.
It’s unclear whether the existing 50,088-square-foot Aventura Plaza Rehabilitation & Nursing Center, which occupies about half the parcel, will remain. A representative for New York-based Citadel Care Centers could not be reached for comment.
The financing comes as Florida’s senior population is expected to grow about 4 percent annually through 2030, according to Colliers. Occupancy in senior housing properties has stabilized to just over 90 percent in the first quarter of 2026, up from roughly 80 percent five years ago.
Sales of assisted living facilities have ticked up in recent months.
Earlier this month, PGIM Real Estate sold a 7-acre property in Delray Beach for at least $140 million, marking one of the priciest South Florida retirement home sales in recent years. Healthpeak Properties bought a 136-unit facility in Boynton Beach for at least $62 million, also this month.
Julia Echikson can be reached at jechikson@commercialobserver.com.
