Chicago-based investment bank Ziegler closed $197 million in tax-exempt and taxable bonds to fund the ground-up construction of Outlook at Windhaven Forefront Living. Set in Plano, Texas, the community will consist of 153 independent living units, 32 assisted living units and 24 memory care units. Its owner, Forefront Living, a Texas not-for-profit organization formerly known as Presbyterian Communities and Services, will also operate the community.
The bonds consist of $109.5 million Series 2022A tax-exempt bonds, $88.2 million Series 2022B tax-exempt mandatory paydown securities, and $1.3 million in Series 2022C taxable bonds that were sold publicly to institutional investors. The proceeds of the bonds will be used to finance and refinance the cost of acquiring, developing and constructing the community. Ziegler’s Brandon Powell handled the transaction.
