CCRC Secures Funding for Expansion
Ziegler announced the closing of Friendship Village of Kalamazoo’s $103.585 million Series 2026A, B-1, B-2, and B-3 bonds issued through the Economic Development Corporation of the City of Kalamazoo. Lifecare, Inc., doing business as Friendship Village Kalamazoo, is on approximately 72 acres within Kalamazoo, Michigan. The 364-unit CCRC comprises 230 independent living units (180 apartments and 50 garden homes), 54 assisted living units in its Woodside facility, 23 memory care units, and 57 skilled nursing beds. LCS will manage the community. A portion of the Series 2026 bonds will be used to add new and upgraded amenities to the campus, add more independent living units, and replace the... Read More »
Live Well Cottages Locks in Construction Financing
Ziegler, through its Senior Housing & Care Finance Practice, priced Live Well Senior Living Inc.’s $45.6 million Series 2026 bonds. Live Well Senior Living is a not-for-profit organization that provides affordable seniors housing options. Live Well Cottages at Vineland is a planned 130-unit independent living cottage community on a 25-acre site in Vineland, New Jersey. Rental rates will include two hours of weekly in-home care, with additional services available as needed. Construction is scheduled to begin February 2026, and the first units have a planned completion date of six months after construction commences. The units will initially be occupied with temporary certificates of... Read More »
Cambridge Provides HUD Construction Financing
Cambridge Realty Capital provided $6.5 million in construction financing for a 20-bed memory care addition to The Pointe at Pontiac, an existing 60-bed supportive living facility in Pontiac, Illinois. The borrower is an Illinois limited liability company. The financing is insured by HUD under its Section 241(a) program and will be used to fund the addition and complete improvements to the existing building. The loan has a fixed rate, was non-recourse and was also interest-only. However, the interest rate was not disclosed. Read More »
Not-for-Profits Close Separate Bond Transactions
Ziegler announced the closing of two financings in Pennsylvania and North Carolina on behalf of separate borrowers. First was Messiah Lifeways’ $82.32 million of Series 2026A bonds. Messiah Lifeways is a not-for-profit that owns Messiah Village, a Type C fee-for-service CCRC serving over 700 seniors on an 85-acre campus in Mechanicsburg, Pennsylvania. There are currently 375 independent living units, 88 personal care units, 76 memory care units, 100 skilled nursing beds and 18 skilled nursing/memory support beds. Construction on a second location is set to begin during the first quarter of 2026. Fernecrest will also sit on 85-acres, and is approximately six miles from Messiah... Read More »Not-for-Profit Creates Chief Growth Officer Position
The Kendal Corporation, a not-for-profit organization that supports a system of communities and services for seniors, created a new Chief Growth Officer position and then formed a cross-functional Growth Team. Max Ault has been promoted to serve as the inaugural CGO, a role designed to consolidate strategic efforts in Affiliate development, greenfield expansion, and emerging signature programs and services across The Kendal System. This change marks a shift toward more proactive growth planning. The newly formed Growth Team will integrate capabilities from development, marketing, finance and operations. This multi-disciplinary team is charged with building expanded growth... Read More »Schedule a demo
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