{"id":1004085295,"date":"2013-10-16T15:04:26","date_gmt":"2013-10-16T23:04:26","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=200856"},"modified":"2025-02-18T05:23:30","modified_gmt":"2025-02-18T13:23:30","slug":"34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\/","title":{"rendered":"$34 M Bond Refinances South Carolina Senior Care Centers, Covers Further Expansion"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/em><\/p>\n

Lutheran Homes of South Carolina Inc., a faith-based, not-for-profit adult care and services organization, has secured a $34.45 million bond financing after collaborating with the South Carolina\u00a0Jobs-Economic Development Authority\u00a0(JEDA). The health facilities revenue bonds secured by the Irmo, S.C.-based organization will cover the costs of developing a new adult care facility and will also refinance Lutheran Homes\u2019 existing projects. The financing will also allow Lutheran Homes to retain 1,108 jobs and to hire a further 29 employees within a year and 46 within two years\u2019 time. The Series 2013 tax-exempt, low-rate financing is Lutheran homes\u2019 second bond financing collaboration with JEDA in recent years.<\/p>\n

\u201cLutheran Homes has been able to lower its costs on earlier work and more efficiently pay for new projects as a result of this innovative tax-advantaged financing option,\u201d says Haynsworth Sinkler Boyd, P.A. bond counsel\u00a0Kathy McKinney.<\/p>\n

The new facility broke ground in late August at Lutheran Homes\u2019 Rice Estate location in Columbia. The $14 million development will expand the community with a 44-bed skilled nursing and rehabilitation center. Part of the bond will be used to refinance the 113-bed Rice Estate, which already features a 36-bed skilled nursing and rehab center comprised of private, semi-private and companion rooms. The community also features 14 memory care beds and 35 assisted living beds in private suites. Independent living is also available at the Columbia senior care center in 30 one- and two-bedroom apartments ranging between 542 to 927 square feet.<\/p>\n

The newly secured financing will also cover renovations at another Lutheran Homes location: Heritage at Lowman. The facility, located in White Rock, S.C. features 60 one-, two- and three-bedroom independent living units in apartment or garden homes that range between 970 and 2,323 square feet, as well as a multitude of enhanced independent living apartment units. A 176-bed skilled nursing and rehab center and a 48-bed memory care facility are also located Heritage and will be refinanced using the newly-secured bonds. Amenities at Lowman include a fitness center with senior-specific equipment, indoor pool, whirlpool, library, beauty\/barber salon, chapel, gallery and onsite restaurant.<\/p>\n

The bond will also refinance a 355-unit continuing care retirement community at Franke at Seaside in Mount Pleasant, S.C., and a 77-unit independent and assisted living community at Trinity on Laurens in Aiken, S.C.<\/p>\n

Lutheran Homes of South Carolina via Facebook<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Lutheran Homes of South Carolina, Inc., a faith-based, not-for-profit adult care and services organization has secured a $34.45 million bond financing after collaborating with the South Carolina Jobs-Economic Development Authority (JEDA).<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[1815],"class_list":["post-1004085295","post","type-post","status-publish","format-standard","hentry","category-latest","tag-national"],"acf":[],"yoast_head":"\n$34 M Bond Refinances South Carolina Senior Care Centers, Covers Further Expansion - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$34 M Bond Refinances South Carolina Senior Care Centers, Covers Further Expansion\" \/>\n<meta property=\"og:description\" content=\"Lutheran Homes of South Carolina, Inc., a faith-based, not-for-profit adult care and services organization has secured a $34.45 million bond financing after collaborating with the South Carolina Jobs-Economic Development Authority (JEDA).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-16T23:04:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-18T13:23:30+00:00\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"$34 M Bond Refinances South Carolina Senior Care Centers, Covers Further Expansion\",\"datePublished\":\"2013-10-16T23:04:26+00:00\",\"dateModified\":\"2025-02-18T13:23:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\\\/\"},\"wordCount\":397,\"commentCount\":0,\"keywords\":[\"National\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/34-m-bond-refinances-south-carolina-senior-care-centers-covers-further-expansion\\\/\",\"name\":\"$34 M Bond Refinances South Carolina Senior Care Centers, Covers Further Expansion - 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