Ziegler Closes $171M in Financing for Atlanta Senior Living Community
Ziegler has closed on $125 million of series 2021A/B fixed rate bonds and $46 million of series 2021C direct bank bonds on behalf of Atlanta’s Canterbury Court life plan community, which is planning a series of enhancements.
Proceeds of the bonds will be used, together with other available funds, to fund the costs of the enhancement project; fund separate debt service reserve fund accounts for the series 2021A/B bonds; fund a portion of interest on the series 2021 bonds; and pay certain expenses incurred in connection with the sale and issuance of the series 2021 bonds.
Plans for enhancing Canterbury Court include:
Expansion and replacement of healthcare facilities to result in 42 assisted living apartments, 21 memory support assisted living apartments and 40 private nursing apartments;
Construction of 105 new independent living apartments in a 10-story tower; and
Conversion of the personal care and nursing units into 28 new independent living units plus renovation and expansion of common and dining areas.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.