With Baby Boomers still too young to move into most seniors housing communities and labor costs growing, many companies see opportunity in the active adult market, which some view as a largely untapped market. We’ll have to see how “under the radar” these assets will stay in the next couple of years. Jumping into the market, Grandbridge Seniors Housing and Healthcare Finance Group just facilitated construction financing for the development of a 318-unit age-restricted community in Plano, Texas operated by Life Style Management Inc.
The transaction consisted of about $62.3 million in taxable and tax-exempt bonds under the 142(d) bond program administered by BB&T Capital Markets. Grandbridge’s Richard Thomas, Meredith Davis and Kim Huffstutler had referred the transaction to BB&T.