Specialty investment bank Zielger has closed on $230.3 million in funding for Bella Vida, an independent living and memory care community being developed by nonprofit Forefront Living in the La Cantera area of San Antonio.

Along with other available funds, the bonds will be used to finance and refinance the cost of acquiring, developing and constructing the new retirement community. The bonds will be used to refinance Bella Vida’s outstanding Series 2023 bond anticipation notes, fund a debt service reserve fund, fund capitalized interest through March 1, 2027, and pay costs of issuing the Series 2025 bonds.

“In light of the current market dynamics, I’m thrilled that we were able to secure financing at favorable terms that will bring Bella Vida to life,” Brandon Powell, managing director of Ziegler Senior Living Finance, said in a statement.

The 26.5-acre community will overlook the rolling hills of the Texas Hill Country. It will include 204 independent living residences (164 apartments and 40 villas), as well as 16 memory support suites. Amenities are expected to include a salon and spa, fitness center, pickleball court, restaurant-style dining, indoor swimming pool and wellness programming.

“Ziegler’s efforts to expedite the marketing process to take advantage of current market conditions resulted in substantial interest savings for Bella Vida,” Forefront Living Chief Financial Officer Steven Ailey said.

Read the rest of the story here: https://www.mcknightsseniorliving.com/news/forefront-livings-bella-vida-secures-230-3m-in-funding-via-ziegler/