SIMI VALLEY, Calif. — Ziegler has arranged $29 million in bond financing for Ensō Verde, a seniors housing currently under development in Simi Valley.
The borrower is Kendal Corp., which began developing the continuing care retirement community in 2022.
Locate don 21 acres, plans call for 237 independent living units, 24 assisted living units, 24 memory care units and related amenities and common areas.
The California Public Finance Authority issued the unrated bonds, which are a mix of tax-exempt and taxable.
The bonds will be used to purchase the development site, fund preconstruction development and marketing costs and pay certain costs of issuance. The project is scheduled to open later this year.