WEST COLUMBIA, S.C. — Ziegler, a specialty investment bank, has closed $39.3 million in bond financing for South Carolina Episcopal Home at Still Hopes, a 278-unit continuing care retirement community (CCRC) in Columbia.
The nonprofit community started serving seniors in 1975 and sits on 43 acres. It features 192 independent living units, 24 memory care units, 22 rehabilitation beds and 40 skilled nursing beds.
Proceeds of the bonds will be used toward construction of HealthPointe, a health center that will replace the existing skilled nursing beds with 48 modern skilled nursing beds and 22 assisted living apartments. The bonds will also fund a debt service reserve fund, as well as pay interest during construction and costs of issuance.