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 »
CCRC Lands Construction Financing
Ziegler announced the closing of The Moorings of Arlington Heights’ $162.86 million Series 2025 bonds issued through the Illinois Finance Authority. The Moorings of Arlington Heights (The Moorings) is a CCRC situated on a 45-acre campus in Arlington Heights, Illinois. The community consists of 264 independent living apartments and villas, 73 assisted living apartments, 20 memory care assisted living apartments, 57 skilled nursing and rehab beds, and 39 intermediate and skilled memory care suites. The Moorings is an affiliate of Presbyterian Living, an Illinois not-for-profit organization based in Skokie, Illinois. Presbyterian Living’s portfolio features four communities and... Read More »
Life Plan Community Secures Bond Financing
Ziegler closed Meadowlark Hills’ $53.8 million Series 2025 bonds through the City of Manhattan, Kansas. Founded in 1975, Meadowlark is a CCRC on 55 acres in Manhattan with 137 independent living apartments, 50 independent living duplexes and cottages, 38 assisted living apartments, and a 134-bed skilled nursing facility (60 private beds and 74 semi-private). Meadowlark Hills offers primarily “Type B” entrance fee plans to their residents. Meadowlark most recently came to the bond market in 2022 to fund “The Monarch” expansion, which filled in just 40 days. Meadowlark currently maintains a waitlist of over 400 prospective residents for its current campus. This financing... Read More »
Developer Secures Construction Financing
JLL Capital Markets arranged a $47 million construction financing for The Arbella at Blue Hills, a 164-unit, active adult community to be developed in Bloomfield, Connecticut. JLL worked on behalf of the developer, The United Group of Companies, Inc. (United Group) to secure the construction loan through Liberty Bank of Middletown, Connecticut. Opening in 2027, the 10.3-acre site will consist of nine residential buildings offering one-bedroom, two-bedroom, two-bedroom-plus-den, and townhome units, including 19 affordable units. Units will feature open floor plans, nine-foot ceilings, stainless steel appliances, granite countertops, walk-in closets, double-sink vanities, full-size... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
