SQLC Raises $109M in Financing for Expansion of Seniors Housing Project in Houston

HOUSTON — Senior Quality Lifestyles Corp. (SQLC), a Texas-based nonprofit developer of seniors housing, has completed financing for the expansion and renovation of The Buckingham, a seniors housing complex in Houston. Financing was completed through the sale of $109 million in series 2015 bonds. The project will add space for 187 additional residents. Ziegler Capital Markets served as bond underwriter for the transaction. Construction has already begun. Currently, The Buckingham has 204 independent living apartments, 43 assisted living suites, 16 memory care residences and 60 private skilled nursing rooms. The Buckingham acquired six additional acres to accommodate the project and will add 106 independent living apartment homes, 33 assisted living suites, 18 memory care residences and 32 private skilled nursing rooms. The new independent living apartment homes will be offered in one-, two- and three-bedroom floor plans.