North Carolina CCRC Secures Bond Financing for Expansion
Ziegler announced the pricing of Twin Lakes Community’s $35.31 Series 2025A and 2025B bonds. Twin Lakes Community operates a not-for-profit, fee-for-service CCRC on 215 acres in Burlington, North Carolina. Since opening in 1983, Twin Lakes has grown to include 482 independent living, 36 assisted living, 32 memory care and 104 health care units. Having recently completed construction and fill-up of Stockton Phase 1, a 48-unit IL apartment building, Twin Lakes is now preparing to launch Phase 2 of the Stockton project. This next phase will include an additional 36 IL apartments, ranging from 1,046 to 1,939 square feet. At the time of pricing, 100% of the new units were pre-sold with a 10%... Read More »
Development Underway for New Fairfield County CCRC
A new CCRC is under construction in our backyard in Stamford, Connecticut (figurative backyard from our headquarters in New Canaan). Mozaic Senior Life (formerly Jewish Senior Services) is building Mozaic Concierge Living, a CCRC that will offer 168 independent living units, along with assisted living, memory care and skilled nursing. The project has been years in the making and is the product of a coordinated effort between Mozaic, development consultant Greenbrier and investment banking firm HJ Sims (another Fairfield County firm). Greenbrier has supported the development from early site evaluation and financial modeling through sales strategy and design. They will also take on a... Read More »
CIBC Finalizes Refinance for High-Quality Skilled Nursing Operator
CIBC Bank closed a $32 million cash-out commercial mortgage refinance related to two skilled nursing facilities in Kentucky and Tennessee. Both are leased to, and operated by, a high-quality, national skilled nursing operator. The two facilities encompass 243 total licensed beds and the buildings each have an effective age of 20 years. The two-facility portfolio posts strong operating results with occupancy at 82% with EBITDAR margins of 21%. The financing was handled by Matthew Tyler and Neal Netzel. Read More »
Planned Florida Community Lands Bond Backing
JLL Securities and HJ Sims, in collaboration with JLL Capital Markets’ Seniors Housing team, arranged $134.26 million of senior series 2025A bonds for a seniors housing community that will be built in Orlando, Florida. The publicly offered, tax-exempt financing has a final maturity of 40 years. Greg Fawcett of JLL Securities, Aaron Rulnick, Kerry Lewandowski and Brady Johnson of HJ Sims, and Alanna Ellis and Timothy Hosmer of JLL Capital Markets’ Seniors Housing team originated the financing. The borrower was Trinity Community Development Foundation, a not-for-profit entity formed by Trinity Broadcasting Network. This transaction marked the start-up senior living enterprise’s entrance... Read More »
New Construction Development Secures Financing
National CORE is launching its first new construction development in Fort Myers, California. This community marks National CORE’s first venture into new construction outside California. This development, as well as a second proposed community, Hawthorne Heights in Gainesville, will nearly double the company’s footprint in Florida. Oak Park Senior Living will be an affordable seniors community with 144 units for seniors aged 62 or older that earn between 30% and 65% of the area median income. The community will offer 124 one-bedroom units and 20 two-bedroom units in one, four-story building. KeyBank Community Development Lending and Investment provided $16 million in low-income... Read More »Schedule a demo
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