Tag Archives: financing

BLC logo

Baptist Life Communities Finances New Project in Alexandria (Ky.)

Plans will now accelerate into high gear for The Seasons at Alexandria, a new senior living project sponsored by Baptist Life Communities (BLC) and planned for Alexandria, Ky. Ziegler closed this month on the $64.420 million bond financing.

The Seasons will replace BLC’s existing Baptist Convalescent Center, located just eight miles north of where The Seasons will be developed. Phase I of The Seasons will include 117 skilled nursing beds and 66 personal care beds. Phase II will add 60 independent living units and a number of amenities.

BLC also owns and operates Baptist Village in Erlanger (Ky.) and Griesser Farm in Burlington (Ky.).

See renderings of The Seasons in the gallery below. Learn more about BLC and its communities.

BLC 1 BLC 2 BLC 3

Print

Coming in July: The Greystone Event 2016

Mark your calendars for July 13–15 when The Greystone Event 2016 returns to the Four Seasons Resort and Club Dallas at Las Colinas. Each summer, The Greystone Event serves as a mid-year opportunity for senior living professionals to gather for education sessions, mutual learning, networking and social events. This year’s Event will be no different.

Contact us if you’re interested in attending The Greystone Event 2016. See highlights from last year’s Event using the video player below, and read more in our follow-up from the 2015 gathering.

Buckingham

Financing Paves Way for Expansion at The Buckingham

Proceeds from a $109.38 million bond financing closed this month will allow The Buckingham, Houston’s premier continuing care retirement community, to serve more residents and further its non-profit mission.

Since first opening in May 2005, The Buckingham has served the Houston area with high-quality continuing care services. This Senior Quality Lifestyles Corporation-sponsored CCRC sits in the heart of Houston’s Memorial-Tanglewood area; its location, plus excellent amenities and an emphasis on hospitality, have led to marketing success and an opportunity for expansion.

Expansion is now possible thanks to this financing, underwritten by Ziegler. After purchasing six adjacent acres in late 2014, The Buckingham will use the bond proceeds to add 106 independent living apartments, 27 assisted living units, 18 memory support suites and 32 skilled nursing beds. To accommodate the increased number of residents, The Buckingham will also add 111 underground and 292 surface-level parking spaces.

The Buckingham’s original construction included 204 independent living apartments, 43 assisted living units, 16 memory support suites and 60 skilled nursing beds on 17 acres. Once the expansion is completed, The Buckingham will sit on a 23-acre campus that includes a total of 310 independent living apartments, 70 assisted living units, 32 memory support suites and 92 skilled nursing beds.

From Greystone Senior Vice President Stuart Jackson: “SQLC has solidified itself as a leading provider of senior services in Texas and beyond, and the recent expansion and repositioning of The Buckingham will cement its position as the dominate CCRC provider in greater Houston. The enhancement of living environments on the campus will better serve current and future generations of Houstonians. The marketplace has responded quickly to this change having achieved over 65 percent presales in a matter of months while maintaining high occupancies in the existing campus. This growth at The Buckingham has tremendous potential to advance this community similar to Edgemere in Dallas in its financial strength and market potential.”

Greystone’s relationship with SQLC dates back more than a decade to when it served as development consultant on the Edgemere project in Dallas, SQLC’s first continuing care retirement community. In the years since, Greystone has served as development consultant on The Buckingham’s original construction and expansion, as well as on SQLC’s four other projects:

  • Querencia at Barton Creek (Austin, Texas)
  • Mirador (Corpus Christi, Texas)
  • The Stayton at Museum Way (Fort Worth, Texas)
  • The Barrington of Carmel (Carmel, Ind.)

Greystone also serves as management consultant at each of SQLC’s six communities — The Buckingham included.

See renderings of The Buckingham’s expansion in the gallery below.

Learn more about The Buckingham.

Buckingham Rendering 1 Buckingham Rendering 2 Buckingham Rendering 3 Buckingham Rendering 4 Buckingham Rendering 5 Buckingham Rendering 6 Buckingham Rendering 7 Buckingham Rendering 8