Presbyterian Manors, Inc. has announced an $85,055,000 bond financing underwritten by Ziegler. The Series 2013 Bonds will go in part toward the two-phase repositioning of Wichita Presbyterian Manor. Proceeds will also go toward capital improvements at other campuses.
Phase I of the Wichita repositioning includes new assisted living and health centers. The assisted living center will include 48 traditional assisted living units and 24 memory support units. The health center will include 50 skilled nursing beds, 20 of which will serve as part of the community’s post-acute-to-home (PATH) program. Phase I is scheduled to open in July 2014.
The second phase of repositioning will include a 90-unit independent living community called The Westerly Residences. Phase II is scheduled to open in late 2015. Greystone is serving as development consultant on the Wichita project.