Ziegler Arranges $197.7 Million Bond Financing for Plano Seniors Housing Community
Ziegler has arranged $197.7 million in bond financing for the Outlook at Windhaven, formerly known as Forefront Living Plano. The property, which is still under development will have 153 independent living apartments, 30 independent living cottages, 32 assisted living units and 24 memory care units.
The financing comprises $109 million of tax-exempt bonds, $88 million of tax-exempt mandatory pay down securties and $1.3 million in taxable bonds, all of which were publicly sold to institutional investors. The proceeds will be used to refinance the cost of acquiring, developing and constructing the retirement community.
The borrower is Forefront Living, formerly known as Presbyterian Communities and Services.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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