Ziegler Arranges $47.8M Financing for Expansion at Pennybyrn CCRC in High Point, North Carolina

HIGH POINT, N.C. — Ziegler has arranged $47.8 million in bond financing for a planned expansion project at Pennybyrn at Maryfield, a continuing care retirement community (CCRC) in High Point, just southwest of Greensboro.

Located on 72 acres, Pennybyrn currently features 180 independent living units, 24 assisted living units, 24 memory care units and 125 skilled nursing beds.

The planned expansion will add 42 new independent living apartments, with 74 percent of them pre-sold, as well as a 24-bed transitional rehabilitation therapy building. The project will also include improvements to the buildings and exteriors throughout the existing campus.

The project team consists of ActionPact Development LLC as developer, ActionPact Design Group LLC as architect, Thomas Construction Group LLC as contractor, NewBanks Inc. as contraction monitor and Dixon Hughes Goodman as feasibility consultant.