Ziegler Facilitates Major Financing for Horizon House
Ziegler, a renowned investment bank, has successfully priced $600 million Series 2025AB Bonds for Horizon House. This financing initiative represents a crucial step in enhancing senior living facilities, particularly in urban settings.
Overview of Horizon House
Horizon House is a nonprofit organization dedicated to developing and operating senior living facilities. Established in 1961, it focuses on fostering a supportive environment for its residents. Currently, it manages a continuing care retirement community featuring independent and assisted living options in a vibrant urban locale, serving over 450 residents.
Development of the New West Tower
Proceeds from the bond will primarily finance the construction of the impressive West Tower. This 33-story building is anticipated to include 202 independent living apartments and will replace the existing West Wing from the 1980s. With a variety of layouts ranging from 861 to 2,206 square feet, the new tower aims to diversify living options for seniors in the area.
Goals and Impact of the New Developments
The West Tower is designed not just to increase housing but also to rejuvenate the Horizon House campus. It will provide modern amenities and common areas including multifunctional event spaces, resident gardens, and elevated dining experiences. The intention is clear: to enhance the quality of life for residents while ensuring sustainability for the corporation.
Expert Insight on the Financing
In discussing the financing, Erica Thrash-Sall, CEO of Horizon House, emphasized the importance of this initiative for the organization’s future. She remarked on the collaborative effort with Ziegler and the Washington State Housing Finance Commission to secure these funds. The focus remains on elevating the resident experience and operational excellence, particularly for the diverse needs of today's seniors.
Noteworthy Financial Details
The financing structure includes tax-exempt bonds rated 'BB' by Fitch Ratings. The strategic arrangement of the bonds features both short-term and long-term repayment options, ensuring flexibility and financial health as Horizon House progresses with its plans.
Looking Ahead for Horizon House
With this major financing initiative, Ziegler continues to set a standard in the not-for-profit senior living financing sector. The project underscores the potential for growth within urban senior living environments. As the population ages, innovative developments like the West Tower will undoubtedly play a pivotal role in meeting the increasing demand for sophisticated and modern senior living spaces.
Frequently Asked Questions
What is the amount secured for Horizon House's financing?
Ziegler has facilitated the pricing of $600 million in Series 2025AB Bonds for Horizon House.
When will the financing for Horizon House close?
The bonds are expected to close in December.
What is the main purpose of the new West Tower?
The West Tower aims to enhance the independent living options available and reinvest in overall campus improvements.
Who is leading Horizon House?
Erica Thrash-Sall serves as the CEO of Horizon House, leading its efforts to develop modern living solutions for seniors.
What are the future goals of Horizon House?
Horizon House aims to continue enhancing resident well-being and ensuring operational excellence through strategic developments.
