NYC’s First CCRC Development Secures Major Financing
Ziegler closed River’s Edge, the largest senior living tax-exempt bond transaction to date, totaling more than $600 million. River’s Edge is the first CCRC project in New York City and will be located on the campus of its sponsor, not-for-profit RiverSpring Living, in the Riverdale section of the Bronx. An affiliate of the sponsor, RS Services, will manage the community upon opening. RiverSpring Living enlisted Chicago-based Integrated Development II as its development consultant, and Ziegler as its senior manager. River’s Edge is the first not-for-profit project for Integrated Development II, which has a team with significant experience in the for-profit CCRC sector. The project, which is... Read More »
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 »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
