Ziegler closes on bonds for CCRC
Orchard Park CCRC, also known as Fox Run at Orchard Park in Buffalo, NY, has received $44.5 million in funding, Ziegler announced.
The bonds are tax-exempt fixed-rate Buffalo and Erie County Industrial Land Development Corporation, Revenue Refunding Bonds, Series 2015.
Fox Run was established by the United Church Home Society Inc. and began operated in 2007. In addition to independent living and assisted living, there are 50 skilled nursing beds.
The Series 2015 Bonds will go toward refinancing the outstanding principal amount of the Erie County Industrial Development Agency's $44,235,000 original principal amount Revenue Bonds (Orchard Park CCRC, Inc. Project), Series 2006A, which was underwritten by ZIegler.