Ziegler Arranges $26.2M in Bond Financing for Christian Care Centers

by Jeff Shaw

MESQUITE, Texas — Ziegler, a specialty investment bank, has arrange $26.2 million in bond financing for Christian Care Centers Inc. (CCC), a nonprofit owner/operator based in the Dallas suburb of Mesquite.

CCC currently operates two communities: Christian Care Senior Living Community-Mesquite in Mesquite and Lakewood Village Senior Living Community in Fort Worth. The company is currently building a third location, Christian Care Senior Living Community-Allen in the Dallas suburb of Allen.

The Mesquite campus is located on approximately 47 acres and includes 80 entrance-fee independent living apartments, 149 rental independent living apartments, 105 assisted living units and 175 skilled nursing beds. The Fort Worth campus is located on approximately 50 acres and includes 156 rental independent living apartments, 34 assisted living units and 48 skilled nursing beds. 

CCC plans to open the Allen campus in May 2016. When completed, the five-acre campus will feature 22 independent living units, 32 assisted living units and 36 memory care units.

Proceeds from the bond financing will be used to refund the outstanding 2005 bonds. CCC stands to save $3.95 million through the new financing.

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