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PLANO, Texas — Ziegler has closed $22.1 million of bond anticipation notes for Forefront Living Plano.
The financing comprises $20.6 million in tax-exempt notes sold publicly to institutional investors and $1.5 million in taxable notes placed with affiliates of the borrower.
The proceeds of the financing will be used to finance the cost of acquiring an 18-acre tract in Plano and the preconstruction development costs of a new retirement community to be known as “The Outlook at Windhaven.” The new project is slated to include 180 independent living units, 32 assisted living units and 24 memory support units.