Ziegler Closes $50.7M in Bond Financing for CCRC in Austin, Texas

by Jeff Shaw

AUSTIN, Texas — Ziegler, a specialty investment bank, has closed $50.7 million in tax-exempt, fixed-rate bonds for Querencia at Barton Creek, a 40-acre continuing care retirement community in the Barton Creek neighborhood of Austin.

Senior Quality Lifestyles Corporation (SQLC), a Texas-based nonprofit operator, owns the property. The community includes 167 independent living units, 40 assisted living units, 23 memory care units, and 42 skilled nursing beds.

Proceeds of the bonds, together with other funds, will be used to refund the outstanding $37.7 million bonds from 2005, improve common areas, fund a restoration project at the community, fund a debt service reserve fund and pay the cost of issuance. 

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