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Ziegler Arranges $68M Financing for Expansion Project at Cypress Cove in Fort Myers

FORT MYERS, Fla. — Ziegler has arranged $68 million in financing for Cypress Cove at HealthPark Florida, a continuing care retirement community in Fort Myers.

The community currently features 377 independent living units, 44 assisted living units, 44 memory support units and 64 skilled nursing units on a 48-acre campus. The financing will fund the addition of a 12-acre gated community known as The Oaks at Cypress Cove, which will include 24 independent living villas, 24 independent living apartments and new common areas in a five-story building.

The financing comprises $44 million in fixed-rate bonds and $24 million in fixed-rate mandatory pay-down securities.

The bonds were issued through the Lee County Industrial Development Authority and were rated BB+ by Fitch Rating.

The post Ziegler Arranges $68M Financing for Expansion Project at Cypress Cove in Fort Myers appeared first on Seniors Housing Business.

Source: Senior Housing Business

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