Ziegler Arranges $170.6M in Bond Financing for Canterbury Court in Atlanta

ATLANTA — Ziegler has arranged a total of $170.6 million in bond financing for Canterbury Court, a continuing care retirement community (CCRC) in Atlanta’s upscale Buckhead neighborhood.

Canterbury Court was founded in the early 1960s by the All Saints Episcopal Church and St. Luke’s Episcopal Church. The community currently features 187 independent living apartments, 18 personal care apartments and 42 nursing care beds.

Proceeds from the bonds will be used to implement a phased expansion and renovation project at the community. The first phase includes replacing the existing healthcare facilities with 42 assisted living apartments, 21 memory support apartments and 40 private nursing apartments. Additionally, Phase I includes 105 new independent living apartments to be constructed in a 10-story building to be known as the Garden Tower.

Phase II includes replacing the old personal care and nursing units with 28 new independent living units. Additionally, Phase II includes the renovation and expansion of common areas including the dining areas.

The enrichment project team includes Jones Lang LaSalle as project manager, Greystone as project advisory consultant, Rule Joy Trammel + Rubbio as architect, Brasfield & Gorrie as general contractor, NewBank as construction monitor and CliftonLarsonAllen as feasibility consultant.