Ziegler Closes $64M Bond Financing for 439-Unit CCRC Near Washington, D.C.

MITCHELLVILLE, Md. — Ziegler, a specialty investment bank, has closed $64 million in bond financing for Collington Episcopal Life Care Community, a 439-unit continuing care retirement community located 14 miles outside downtown Washington, D.C., in Mitchellville.

In 2011, The Kendal Corp. affiliated with the community, which was built in 1982. The property includes 330 independent living units, 29 assisted living units , 36 memory care units and 44 skilled nursing beds. The property is the only nonprofit CCRC in the county, according to Ziegler.

The bonds were issued through Prince George’s County and will be used to refund previous bonds, repay a construction loan from Santander Bank, finance capital improvements, fund a debt-service reserve fund and pay costs of issuance.

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