Ziegler Secures Long-Term FHA/HUD Financing for Magnolia Crossing Senior Living
Ziegler has successfully closed a long-term FHA/HUD Section 232/223(f) financing transaction to refinance the debt of Magnolia Crossing, a nonprofit assisted living and memory care community in Clovis, California. The refinancing replaces construction-era debt with a 35-year, fixed-rate, fully amortizing structure designed to ensure long-term financial stability for the mission-driven facility. The deal includes approximately $660,000 for owner-elected capital improvements, such as solar energy infrastructure, and establishes reserves for future repairs. Developed by Innovative Development and Living Solutions of California (IDLS), Magnolia Crossing utilizes a mixed-income model that serves both private-pay residents and those supported through Medi-Cal.
Topics: FHA/HUD financing nonprofit healthcare refinancing senior living