Ziegler announced the closing of a $31.2 million non-rated, fixed-rate bond issue for Peterborough Retirement Community at Upland Farm, Inc.
RiverMead was formed in 1991 and the original continuing care retirement community campus at RiverMead opened in December 1995.
RiverMead’s existing campus is situated on a 56-acre site in south central New Hampshire in the town of Peterborough. RiverMead currently consists of 114 independent living units, 53 assisted living units, 27 skilled nursing beds, a wellness center, and over 35,000 square feet of community and amenity space, the majority of which is located in the main community center.
The bonds are being issued to fund the construction of the Village, which will house approximately 40 independent living units and 20 assisted living beds as part of an expansion of the community’s services. In addition, the funds will be used to build an underground parking lot and reimburse routine capital expenditures.
The Village will be constructed in such a way as to potentially provide for nursing care in the future.
“Since opening in 1995, RiverMead has fulfilled its mission by providing quality housing and care to seniors in the Northern New England area,” said Keith Robertson, director of Ziegler’s Senior Living practice. “Through the Board’s active involvement and foresight The Village expansion will allow RiverMead to position itself for the future by meeting unmet demand in the area while furthering its mission. It was an honor for Ziegler to work with the RiverMead organization, a premier senior living provider in New Hampshire.”
Written by John Yedinak