Ziegler Closes $44.5M Bond Financing for CCRC Near Buffalo

by Jeff Shaw

ORCHARD PARK, N.Y. — Ziegler, a specialty investment bank, has closed $44.5 million in fixed-rate bonds for Fox Run at Orchard Park, a 53-acre continuing care retirement community (CCRC) south of Buffalo.

The United Church Home Society Inc. (UCHS), a local notprofit organization, established Fox Run in 2007. The community includes 180 independent living units,

50 skilled nursing beds and 52 assisted living suites (including 18 memory care units).

The bonds will be used to refinance the outstanding principal amount of the community’s 2006 bonds, which were used for construction.

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