Presbyterian Manors of Mid-America has broken ground on their newest CCRC, Aberdeen Ridge, thanks to the recent successful closing of their $140.02 million Series 2021 bonds issued through the Colorado Health Facilities Authority and underwritten by Ziegler. This is PMMA’s first venture into Colorado. The faith-based, not-for-profit corporation is headquartered in Wichita, Kansas and operates 15 senior living communities and two hospices across Kansas and Missouri, serving over 2,400 residents.
In 2018, PMMA acquired a Texas not-for-profit corporation, which owned an undeveloped 15.25-acre site within 1.5 miles of Garden of the Gods National Park, and which already had the permits and approvals for a senior living community. Aberdeen Ridge is expected to open its doors in 2023 and will feature 171 one- and two-bedroom independent living, 40 assisted living and 24 memory care units. The homes will vary in size and will start at a monthly fee of approximately $3,650 and an entrance fee of approximately $375,000. PMMA was advised by Greystone for this venture.
