CARMEL, IND. — Senior Quality Lifestyles Corp. (SQLC) and its affiliate, Mayflower Communities, in a partnership with St. Vincent Health, have received financing through the sale of $119 million in revenue bonds for The Barrington of Carmel, a 501(c)3 nonprofit life care community under development in Carmel.
B.C. Ziegler and Co. served as the bond underwriter for the transaction.
“We are pleased to complete the successful financing of The Barrington and excited to have construction of the new community already underway,” says Charles Brewer, president and CEO of SQLC. “The Barrington will add to Carmel’s already superb reputation as one of the best places to live in the country.”
The 264-unit seniors housing community is located at Guilford Road. The Barrington will contain 134 independent living apartments, 56 residential assisted living apartments, 26 memory support suites and 48 skilled nursing beds. Amenities will include fine dining, a bistro, fitness and wellness centers, creative arts studio, salon and spa, library, housekeeping and scheduled transportation.
“The financing of The Barrington speaks highly of the reputation of SQLC and Mayflower within the financial community,” says Rich Scanlon, managing director of Ziegler Capital Markets, Senior Living Finance. “The expertise these two organizations bring to this project will ensure The Barrington will provide local seniors with the best quality of life in Carmel.”
Greystone Communities is the development partner for the project. Completion is slated for 2013.
— Savannah Duncan