SAN ANTONIO — Ziegler has arranged $25.3 million in bond financing for Forefront Living San Antonio (FLSA).
The financing comprises $22.3 million in tax-exempt notes and $3 million in taxable notes placed with affiliates of FLSA.
FLSA plans to use the funds to acquire a 27-acre tract in San Antonio and pay for pre-construction development costs of a seniors housing community on the land. The development will be named Bella Vida at La Cantera.
FLSA will own and operate the community, which is slated to include 153 independent living apartments, 40 independent living cottages and 16 memory support assisted living units, as well as a covered parking deck, common areas and administrative support spaces.
“We are eager to serve the residents of San Antonio with the city’s first new non-profit senior living community in more than 30 years,” says Tim Mallad, Forefront Living CEO.