DENVER — Ziegler has closed Christian Living Communities Obligated Group’s $41.2 million Series 2026 Bonds, which were issued through the Colorado Health Facilities Authority.
Christian Living Communities Obligated Group is a three-property senior living organization based in Denver. The organization’s communities include Clermont Park, Someren Glen and Holly Creek in metro Denver. Together, the properties total 474 independent living apartments and villas, 122 assisted living units and 192 skilled nursing beds.
The parent group, Christian Living Communities, features other affiliate organizations and senior living communities, including three assisted living and memory care properties, a home care agency, real estate holding companies, a Medicare Advantage program and a third-party management company.
Proceeds of the bonds will be used to refund Series 2016 Bonds and to fund $2 million of capital expenditures. According to Ziegler, debt service savings resulting from the Series 2026 Bonds will total more than $4 million.