SantaFe Senior Living has announced the closing of $68,950,000 in bond financing for East Ridge at Cutler Bay, its continuing care retirement community in Cutler Bay, Florida, just south of Miami. Proceeds from these bonds will go toward repositioning at East Ridge, which first opened in 1965. Phase I includes 90 new assisted living units, 31 new memory support units and 74 new skilled nursing beds. This first phase will replace existing assisted living and skilled nursing units.
Greystone is serving as development consultant. Ziegler served as underwriter on this financing.