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Long Term Care Facilities

Alzheimer's Resource Center Issue, Series A

Bond proceeds will provide for the refunding of a commercial loan, which refunded a previous Connecticut Development Authority bond issue that  financed interior renovation of nursing areas and roof replacement; acquisition of land; and construction of a skilled nursing facility specifically designed to care for patients with Alzheimer's Disease and related dementias.

Mary Wade Home Issue, Series A

Bond proceeds will finance the construction of a new healthcare building consisting of 50 residential care units (relocating 45 units from an existing building and adding 5 new units), 20 assisted living units and 20 memory suport assisted living units.  In addition, proceeds will be used to refinance existing bank debt in the amount of approximately $10.8 million.

Odd Fellows Healthcare Issue, Series A

Bond proceeds provided for the refinancing of existing mortgage debt used to construct Thames Edge at Fairview, a CCRC with 40 two-bedroom homes and to reimburse Odd Fellows for capital expenditures.  Odd Fellows Healthcare is a continuing care community, which operates under the trade names Fairview, Fellowship Manor and Thames Edge at Fairview.

Masonicare Issue, Series F&G

Bond proceeds provided for the refinancing of Masonicare's 2007 Series C and 2012 Series E bond issues, the financing of swap termination payments, and to fund approximately $5.0 million for capital improvements.

Healthcare Facility Expansion Issue, Series 2016 (Seabury Retirement Community)

Bond proceeds financed Phase B & C of Seabury's Strategic Repositioning Plan, which includes the addition of 68 new independent living units, the addition of skilled nursing beds and assisted living units, and various renovation projects.  This was CHEFA's first below invesment grade rated credit bond offering, which was very well received by investors, resulting in an overall interest rate of 5.0%. 

 

Cherry Brook Health Care Center Issue, Series B

The bonds were used to current refund Cherry Brook's 1993 bond issue and to finance renovations to the facility.

Hartford Business Journal, "CHEFA Set to Boost Nonprofit Funding" article - 12/21/2009

HBJ's Greg Bordonaro recently interviewed Jeffrey A. Asher on CHEFA's financing options, and what the Authority is doing to meet the needs of nonprofits in Connecticut.

To read the article, visit http://www.hartfordbusiness.com/news11391.html

SummerWood Tefra Hearing

Event Date: 
08/16/2007 - 10:00am to 10:30am

SummerWood Tefra Hearing Notice

Project: 
Content owner: 
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