Presbyterian Retirement Communities Obtains Bond Financing
Ziegler closed a bond financing on behalf of Presbyterian Retirement Communities, Inc., (PRC) whose obligated group is the largest group of not-for-profit CCRCs in Florida, and the 11th largest in the nation with a total of 3,863 units. (PRC) $82,270,000 Series 2024 Bonds. PRC affiliated with Florida Presbyterian Homes (FPH) in Lakeland, Florida, and the Series 2024 bonds provided for the admission of FPH in the obligated group with the refunding of its outstanding debt. Proceeds of the $82.27 million of bonds will be used to refinance the outstanding PRC Series 2014 bonds and FPH Series 2010A bonds and FPH Series 2015 bonds. In addition, the bonds will help reimburse for $50 million of... Read More »
Joint Venture Secures Refinance for Arizona Portfolio
JLL Capital Markets arranged a $96.5 million refinancing for a seniors housing portfolio in Arizona. JLL worked on behalf of the borrower, Douglaston Development and The Hampton Group Inc., to secure the bank financing. The JLL Debt Advisory team representing the borrower was led by Alanna Ellis, Brad Miner and Ace Sudah. Built between 2021 and 2024, the portfolio comprises five properties with 510 independent living, 339 assisted living and 122 memory care units in the Phoenix, Mesa, Sedona and Chandler MSA’s. The communities are in strong seniors housing submarkets, where the 75+ population represents almost 20% of the population in the surrounding areas, and include Canyon Winds... Read More »
Eskaton Receives Bond Financing
Ziegler closed the Eskaton Obligated Group’s $82.9 million Series 2024 bonds through the California Municipal Finance Authority. Eskaton and its related subsidiaries own or manage 25 senior living communities with skilled nursing beds and independent living, assisted living, memory care and affordable units. Eskaton comprises three members consisting of five communities: Eskaton Properties, Inc. (consisting of Eskaton Village Carmichael, Eskaton Land Park and Eskaton Gold River), Eskaton Village- Grass Valley and Eskaton Village-Roseville. The Series 2024 bonds have a first-time rating of “BBB” by Fitch. They consist of long-term tax-exempt fixed interest rate bonds achieving level debt... Read More »
Build Senior Living Secures C-PACE Financing
Bayview Pace provided $4.3 million in C-PACE financing for a seniors housing community in the Detroit, Michigan MSA. Hampton Manor-Taylor comprises 65 assisted living and 16 memory care units with 102 total beds. There is extra capacity for shared rooms and/or additional companion units. The community is on six acres in Taylor, Michigan. The project sponsor is Build Senior Living, which is based in Cape Coral, Florida, and has completed 21 communities totaling 1,634 units. The C-PACE funds are part of a refinancing on the already-completely Taylor community, which is substantially leased. Read More »
Focus and Arbor Expand Footprints
JLL Capital Markets announced its role in completing the sale and financing of Mariposa, a 313-unit seniors housing community in Lake Worth, Florida. We wrote on Wednesday that Focus Healthcare Partners acquired the campus and was bringing on Arbor Senior Living to operate it. Sitting on 22.5 acres, the community was built in 2018 with a three-story IL/AL building consisting of 259 units and an adjacent one-story memory care building featuring 54 units. It was more than 95% occupied, and has been at 90% and above since September 2020. That is fantastic, and credit to Discovery Senior Living, which was the previous operator. Arbor Senior Living will hopefully hit the ground running as the... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
