Ziegler Arranges $104.1M Bond Financing for Friendship Village of Tempe Expansion Project

TEMPE, Ariz. — Ziegler has arranged $104.1 million in bond financing to fund an expansion project at Friendship Village of Tempe, a continuing care retirement community in Tempe.

The property currently features a 554-unit retirement center including garden homes and apartments, a 67-unit assisted living building, 24 memory care beds, a 128-bed skilled nursing center and a 14-bed hospice unit.

The expansion, which is Phase II of the campus master plan, will add a five-story building that replaces a former 60-unit apartment building with 64 entrance-fee apartments and a new dining facility.

The Industrial Development Authority of the City of Tempe, Arizona issued the bonds. This is the sixth financing that Ziegler has arranged for the community since its inception in 1980.