Forefront Living Building New Plano Campus
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... Read More »Greystone Affiliate Builds Low-Income Seniors Housing
Greystone affiliate America First Multifamily Investors, L.P. (ATAX) announced that it has purchased $72 million in tax-exempt and taxable mortgage revenue bonds for the acquisition of land and construction of a 200-unit seniors affordable housing property in Los Angeles. The community will be named Residency at the Entrepreneur and will provide housing for seniors earning a range of 30% to 80% Area Median Income. In addition, 99 of the units will be master leased by The People Concern, whose constituents are seniors, individuals at risk of homelessness, and low-income families. At completion, the community will be owned by Residency at the Entrepreneur, LP, a California limited... Read More »Northland Networks Closes Construction Loan
Northland Networks recently closed a senior housing construction loan for a project in Ormond Beach, Florida (Daytona Beach MSA). RBS Development Group LLC, an experienced assisted living developer in the state of Florida, is building the community to feature 131 units of assisted living and memory care. Northland Networks served as exclusive placement agent for the $28.5 million loan participation, and Meridian Capital Group handled the transaction. This week, Northland also branched out of the seniors housing business to close a first mortgage loan for Sunview Medical Day, an outpatient behavioral health facility managed by Cedar Health in West Palm Beach, Florida. Northland once again... Read More »Ziegler Finances Virginia CCRC Expansion
Ziegler has successfully closed financing for Shenandoah Valley Westminster-Canterbury, (SVWC) a large CCRC in Winchester, Virginia. The financing consists of $71 million Series 2022A and 2022B bonds, for the Virginia-based not-for-profit. Founded in 1982, SVWC serves nearly 400 residents on its 87-acre campus with 218 independent living units (164 apartments and 54 cottages), 48 assisted living units, 12 memory care units and 51 skilled nursing beds.Plans for an independent living expansion project are in place, which will include 48 new units. To fund the expansion, SVWC issued two tranches of draw down bank loans that were purchased by Atlantic Union Bank and Pinnacle Financial Partners... Read More »CA Ventures Partners on Oregon Construction Project
A joint venture between CA Ventures and an institutional equity partner is building a 206-unit senior living community in Beaverton, Oregon (Portland MSA) with construction financing arranged by CBRE National Senior Housing. Anthology of Beaverton will consist of 206 independent living, assisted living and memory care units near the Tanasbourne shopping district, which includes a Whole Foods, Starbucks, REI, and several other shopping and dining locations. Anthology Senior Living, CA Venture’s senior living platform, will operate it upon completion. The transaction also marked the beginning of Anthology’s strategic alliance with Formation Development Group, having contributed to the... Read More »Schedule a demo
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