Zeigler Arranges $44.2M in Bond Financing for Seniors Housing Community in Colorado
COLORADO SPRINGS, COLO. — Ziegler, a specialty investment bank, has arranged $44.2 million in fixed-rate bonds for Sunny Vista Living Center, a skilled nursing and independent living community in Colorado Springs.
Sunny Vista features 110 skilled nursing beds and 50 one-bedroom independent living apartments using Section 8 subsidies through the U.S. Department of Housing and Urban Development (HUD).
The bonds will fund the addition of 38 assisted living units and 28 memory care units on a 4.8-acre site. The expansion will comprise 55,500 square feet.
In conjunction with the financing, Sunny Vista merged with The Villa at Sunny Vista. The two communities were separate entities previously, but were affiliated and shared a CEO. The two facilities will now be a single, consolidated campus.
The financing is composed of $42.3 million of tax-exempt bonds and $1.9 million of taxable bonds.