SPRING HILL, Tenn. — Ziegler has arranged $17.7 million in bond financing for HutsonWood at Spring Hill.
The borrower will use the financing proceeds to acquire approximately 20 acres of land and to finance certain pre-construction development costs related to an expansion and repositioning of an existing skilled nursing and assisted living community in Spring Hill, a suburb south of Nashville.
Upon completion of construction, the project will provide a full continuum of care for residents on an approximately 35-acre campus consisting of 172 independent living units, 24 assisted living units, 24 memory care apartments and the existing 68 skilled nursing beds. The new independent living units will consist of a mix of 112 apartments, 18 duplexes and 42 cottages.
Greystone is serving as the development consultant for the project.
Project funding will consist of approximately $186.8 million through a combination of tax-exempt and taxable revenue bonds to be issued in 2026. The plans include temporary debt to be redeemed with a portion of initial entrance fees from independent living residents after establishing certain reserves and working capital amounts; and long-term debt to be amortized over the anticipated economic life of the community.