Ziegler Arranges $58.1M Bond Financing for Twin Lakes Community in Elon, North Carolina

by Jeff Shaw

ELON, N.C. — Ziegler has arranged $58.1 million in bond financing for Twin Lakes Community, a continuing care retirement community (CCRC) in Elon, approximately midway between Greensboro and Durham.

Twin Lakes sits on approximately 215 acres of land. It first opened in 1983 and currently operates 434 independent living units, 36 assisted living units, 32 memory care units and 104 healthcare units. It ranks as the 28th largest nonprofit single-campus senior living organization in the nation, according to the 2022 LeadingAge-Ziegler 200.

Having recently completed construction of a replacement nursing facility, which Ziegler financed in 2019, Twin Lakes is now planning a 48-unit independent living expansion known as the Stockton Apartment Building with units ranging in square footage from 1,046 to 1,950.

Issued through the North Carolina Medical Care Commission, the bonds were structured in two tranches.

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