CHARLOTTE, N.C. — Ziegler has closed approximately $166.4 million in bond financing on behalf of The Presbyterian Home at Charlotte, doing business as The Sharon at SouthPark.
Originally founded in 1964, the organization owns and operates a continuing care retirement community in Charlotte. Situated on 28.1 acres in the SouthPark area of Charlotte, the community currently features 247 independent living residences, 38 assisted living units and 96 skilled nursing beds.
Proceeds from the financing will be used to fund an expansion project at the property. The expansion will add 64 new independent living apartments with underbuilding parking, mixed-use space on the ground floor of the new independent living building and a 52,000-square-foot amenity space. Dubbed the Center for Vibrant Living, the amenity space will feature a swimming pool, fitness equipment, two workout studios, walking tracks and golf simulators.
The financing will also be used to fund a portion of interest during construction, a debt service reserve fund and costs of issuance.