Ziegler Arranges $52M Bond Refinancing for 747-Unit CCRC in Kansas

LENEXA, Kan. — Ziegler has arranged $52 million in bond financing for Lakeview Village, a 747-unit continuing care retirement community in Lenexa, a suburb of Kansas City.

The nonprofit community sits on a 100-acre campus and was opened in 1962. The property features 342 independent living apartments, 207 independent living cottages and villas, 26 assisted living units and 172 skilled nursing beds.

The financing will refund 2007 bonds, fund a debt service reserve and pay for costs of issuance. The bond structure includes serial bonds through 2032 and two term bonds in 2034 and 2039 amortized for level debt service. As a result of this refinancing, Lakeview will save $455,000 per year is debt service payments.