The Arizona Health Facilities Authority has approved the application from People of Faith, Inc., d/b/a Royal Oaks Lifecare Retirement Community. The applicant is a prominent Continuing Care Retirement Community with a 18 year reputation for providing quality care and service.

Royal Oaks Life Care Center is located on a 34 acre site in Sun City, AZ. Royal Oaks consists of 249 independent apartments located within a three-story building, 100 independent garden homes located on the perimeter of the campus, and 124-bed skilled nursing facility.

Royal Oaks intends to use the proceeds from the $20,450,000 transaction for the acquisition, construction, furnishing and equipping of an approximately 59 unit assisted living facility, parking structure, 24 new independent living units and a life enrichment center.

Institution Type:
Assisted Living Facility

Bond Issue Date:
3/1/2002

Amount Financed:
10 Million - 25 Million

Interest Rate:
Variable

Bond Denomination:
5,000

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