#United States #Fairview #Groton #Ziegler #Vista Point

Ziegler Closes $304 Million Financing for Fairview's Vista Point Project

Ziegler, known as one of the leading specialized investment banks in the United States, proudly announces the successful closure of a $304 million financing agreement for Fairview's Vista Point Project. This significant transaction marks one of the largest financings for senior living facilities in Connecticut, a vital addition to the region's growing senior care infrastructure.

A New Chapter for Fairview

Founded in 1892 by the Connecticut Independent Order of Odd Fellows, Fairview has a rich history as a retirement community located in Groton, Connecticut, along the scenic Thames River. Initially serving as a single-structure retirement home, Fairview has successfully evolved over 134 years into a licensed Continuing Care Retirement Community, now encompassing approximately 70 acres.

The upcoming Vista Point Project will be constructed on a currently undeveloped section of this extensive campus, encompassing 20 acres that Fairview has owned for over a century. This expansion is designed to meet the increasing demand for elder care services as the population ages, and it represents Fairview's commitment to enhancing quality of life for its residents.

What the Vista Point Project Entails

The Vista Point Project plans to add a total of 193 Entrance Fee Independent Living Units, 44 Assisted Living Units, and 28 Memory Support Units to the Fairview campus. Alongside these living spaces, the development will feature an array of communal amenities designed to foster community engagement and well-being among residents. Some highlights of these planned facilities include:

• - Dining venues and bistro-style cafes
• - An indoor salt-water swimming pool
• - A performing arts center
• - A chapel
• - A fitness gym with a golf simulator
• - Recreational rooms, gardens, and walking trails
• - Indoor pickleball and tennis courts
• - Underground parking facilities

In a testament to the project's promising potential, Fairview has secured pre-sales for approximately 70% of the Independent Living Units, indicating strong interest from prospective residents.

Financial Implications and Future Prospects

The comprehensive financing package will not only fund ongoing construction costs associated with the Vista Point Project but also allow Fairview to repay existing debts and establish a reserve fund for future financial stability. Additionally, the funds will be allocated for capitalized interest payments on a portion of the bonds issued to facilitate this financing.

Billy Nelson, CEO of Fairview, expressed his gratitude for Ziegler’s role in this monumental transaction, stating, "The effort and expertise Ziegler provided has been essential to the success of our expansion. Next step, groundbreaking. Thank you, Ziegler; Fairview will always be grateful."

Keith Robertson, Managing Director in Ziegler's Senior Living Finance Practice, praised Fairview's dedication and vision, acknowledging that it's exciting to collaborate on a project of such importance. He emphasized that the Vista Point Project places Fairview in a strong position to lead senior living and care in Connecticut's southeast region for decades to come.

Ziegler’s Commitment to Senior Living

Ziegler is recognized as a premier underwriter specializing in financing for not-for-profit senior living providers across the country. The firm offers an impressive range of services tailored specifically for the senior living sector, including investment banking, financial risk management, and capital planning. Their holistic approach positions them as a trusted partner for institutions like Fairview, committed to enhancing the landscape of senior care.

As the groundbreaking for the Vista Point Project approaches, this collaboration stands as a significant point in the narrative of both Ziegler and Fairview, demonstrating the impact of strategic financing in the vital realm of elder care.

For further details about Ziegler and its mission to support senior living initiatives, visit www.ziegler.com.