Saturday, March 1, 2025
Read the Magazine Subscribe

CCRC

CCRCDevelopmentNewsSouth Carolina

The Woodlands at Furman Completes $4.5M Expansion in Greenville, South Carolina

by Jeff Shaw

GREENVILLE, S.C. — The Woodlands at Furman, a nonprofit continuing care retirement community in Greenville, has completed its 13,000-square-foot expansion. The project added Community Village, which features a multipurpose room and a wellness center that includes cardio equipment, therapy pool, massage room, day spa, gym, locker rooms. Development costs were estimated at $4.5 million. “The Community Village reminds me of a town square – providing a hub for activities ranging from lectures to exercise classes to spa services,” said Mary Lou Merkt, president and CEO at The Woodlands at Furman. …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCCRCConnecticutNewsOperations

Benchmark Assumes Management of Meadow Ridge CCRC in Redding, Connecticut

by Jeff Shaw

REDDING, Conn. — Benchmark Senior Living has become part owner and the operator of Meadow Ridge, a continuing care retirement community (CCRC) in Redding, approximately 55 miles northeast of Manhattan. Affiliates of Senior Care Development, the community’s original developers, will retain majority ownership. Set on 136 acres, Meadow Ridge is Connecticut’s largest retirement community offering independent living, assisted living, skilled nursing and rehabilitation on one campus. It opened in 2001 and features 415 apartment homes and employs more than 300 associates. Benchmark owns and operates 63 independent living, assisted living, …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCDevelopmentNewsTexas

Forefront Living Buys 18.2 Acres in Plano for 236-Unit Development

by Jeff Shaw

PLANO, Texas — Forefront Living has acquired an 18.2-acre plot of land in Plano for the construction of an independent living, assisted living and memory care community, according to Dallas-based news outlet D Magazine. The plot is located on former farmland owned by the Haggard family. The faith-based, nonprofit seniors housing developer plans to construct The Outlook at Windhaven on the site. The project is slated to include 150 independent living apartments, 30 independent living cottage homes, 32 assisted living apartments and 24 memory care units. Construction is scheduled to …

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaCCRCDevelopmentFinanceNews

Ziegler Structures $136.8M in Financing for Royal Oaks CCRC Expansion in Sun City, Arizona

by Jeff Shaw

SUN CITY, Ariz. — Ziegler has arranged $136.8 million of public bonds and bank capital for People of Faith Inc. The borrower has planned an expansion project known as Inspirata Pointe at its existing continuing care retirement community (CCRC), Royal Oaks, in Sun City. The financing comprises $90.8 million in tax-exempt bonds and $46 million in variable-rate entrance fee redemption bonds. Royal Oaks was established in 1981 on approximately 50 acres 22 miles northwest of Phoenix. The CCRC currently offers 258 independent living apartments, 102 independent living private residential garden …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCFinanceIllinoisNews

Clare Oaks CCRC in Illinois Emerges from Bankruptcy, Plans $5M Improvement Project

by Jeff Shaw

BARTLETT, Ill. — Clare Oaks, a continuing care retirement community (CCRC) in the Chicago suburb of Bartlett, has emerged from Chapter 11 bankruptcy with $40 million in reduced debt and plans for a $5 million capital improvement project. The property opened in 2008, but declared bankruptcy in June 2019. The process reduced its debt from $86 million to $46 million, and also installed a new operator in ER Senior Management IL LLC and a new board of directors led by Julie Boggess. “The goal of this rigorous process was to …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCFinanceNewsOhio

Ziegler Arranges $69.5M Financing for Wesley Communities in Metro Columbus, Ohio

by Jeff Shaw

COLUMBUS and REYNOLDSBURG, Ohio — Ziegler has arranged $69.5 million in bond financing for The Methodist Retirement Center of Central Ohio, a nonprofit corporation doing business as The Wesley Communities. Incorporated in 1965 as a faith-based provider, The Wesley Communities comprises three senior living properties totaling 668 units: Wesley Glen in Columbus, Wesley Ridge in Reynoldsburg and Wesley Woods at New Albany in Columbus. Additionally, Wesley Hospice provides hospice services throughout the communities. The assisted living, memory care and skilled nursing units in Wesley Glen and the assisted living and …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCDevelopmentFinanceNew YorkNews

HJ Sims Arranges $89M in Financing for Jefferson’s Ferry CCRC Expansion on Long Island

by Jeff Shaw

BROOKHAVEN, N.Y. — HJ Sims has arranged $89 million in financing for an expansion project at Jefferson’s Ferry, a continuing care retirement community (CCRC) in the Long Island town of Brookhaven. Sims underwrote the initial construction bond financing in 1999 for Jefferson’s Ferry, followed by a refunding of this financing in 2006. The new funds will be used toward Jefferson’s Ferry’s Journey Toward Renewal project, an improvement and expansion of the residential and healthcare space. The project includes construction of a 20-unit building dedicated to assisted living residents with dementia, …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCFinanceMassachusettsNew JerseyNewsPennsylvaniaVirginia

Truist Provides $136M in Financing for National Senior Campuses

by Jeff Shaw

WELLESLEY HILLS, Mass. — Truist Financial Corp. has provided a $136 million loan to National Senior Campuses, a continuing care retirement community (CCRC) operator based in Wellesley Hills. The financing will be used toward five of the borrower’s communities, totaling 7,731 units in Warminster, Pennsylvania; Peabody, Massachusetts; Pompton Plains, New Jersey; Springfield, Virginia; and Tinton Falls, New Jersey. Greenspring, one of the borrower’s CCRCs in Northern Virginia, is the first affiliate that will benefit from the new debt proceeds. In total, the funding will provide $115 million toward multi-year, multi-phased …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCFinanceFloridaNews

Ziegler Arranges $107.7M Financing for Cypress Cove at HealthPark Florida in Fort Myers

by Jeff Shaw

FORT MYERS, Fla. — Ziegler has arranged $107.7 million in bond financing for Cypress Cove at HealthPark Florida Inc. The proceeds of the bonds will be used to refinance outstanding debt, reimburse and fund certain capital expenditures, fund a debt service reserve fund and pay costs of issuance. Cypress Cove is a nonprofit continuing care retirement community (CCRC) in Fort Myers. The property features 333 independent living apartments, 44 independent living free-standing villas and common areas, 44 assisted living units, 44 memory care units and a skilled nursing facility containing …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCDevelopmentFinanceNewsTexas

Ziegler Arranges $77.1M Bond Financing for Presbyterian Village North in Dallas

by Jeff Shaw

DALLAS — Ziegler has arranged $77.1 million of bond financing for Presbyterian Village North, a continuing care retirement community (CCRC) in Dallas. The community sits on a 66-acre campus and currently consists of 89 buildings with 253 independent living units, 101 assisted living units, 44 memory care units and a health center operating 106 skilled nursing beds. The proceeds of the bonds will finance the cost of an expansion project that will add 112 new independent living units in a five-story building named The Hawthorne. Of the 97 units being …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts