MUNSTER, Ind. — Ziegler, a specialty investment bank, has closed a $58.6 million tax-exempt, fixed-rate Series 2015 Bond issue through the Indiana Finance Authority for Community Foundation of Northwest Indiana (CNFI), which operates three not-for-profit hospitals and a continuing care retirement community (CCRC).
CCRC
WEST POINT, Pa. — Senior living provider ACTS Retirement-Life Communities has unveiled a multi-year strategic plan to renovate and reposition its portfolio of continuing care retirement communities (CCRCs). The renovations are expected to total approximately $300 million over the next three years.
WHEATON, Ill. — As advisor to a venture between Westminster Capital and LCS, Cushman & Wakefield Senior Housing Capital Markets has arranged the sale of Wyndemere, a 432-unit entrance fee continuing care retirement community (CCRC) located in Wheaton, an affluent suburb of Chicago.
BLUFFTON, Ind. — As part of a Chapter 11 planned bankruptcy sale, Senior Living Investment Brokerage has sold River Terrace Estates, a continuing care retirement community in Bluffton, Ind. The purchase price for the real estate was $6 million, but as part of the bankruptcy, the buyer also assumed about $2 million of refundable deposit liability and took over AP/AR. The all-in purchase price is approximately $8 million, which computes to a realized 7 percent cap rate.