PLANO, Texas — Ziegler has arranged $197.7 million in bond financing for the Outlook at Windhaven Forefront Living, a seniors housing community in Plano.
The property, which was formerly known as Forefront Living Plano, is currently in the development process. Designs cal for 153 independent living apartments, 30 independent living cottages, 32 assisted living units and 24 memory care units.
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.
The financing comprises $109.5 million of tax-exempt bonds, $88.2 million of tax-exempt mandatory paydown securities and $1.3 million in taxable bonds, all of which were sold publicly to institutional investors.
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