The Arizona Health Facilities Authority has approved an $83M financing application for Beatitudes Campus. Beatitudes Campus is an Arizona not-for-profit corporation which owns and operates a continuing care retirement community consisting of 146 bed skilled nursing facility, a 91 unit assisted living facility, and 325 independent living units. The applicant is sponsored by the Church of the Beatitudes, a United Church of Christ Congregation.

The funds will be utilized to construct three separate four story buildings, providing 48, 56 and 84 independent living apartments respectively, 11 single story patio homes, the conversion of 11 independent living apartments to accommodate the construction of 24 assisted living units for early stage dementia patients, a single story town plaza, a maintenance shop, and a swimming pool.

The Bonds will be sold through an underwriting syndicate, on a public offering basis to both accredited investors and qualified institutional buyers on an unrated basis. The Bonds will be secured by a gross receipts pledge of the obligated group’s facilities.

Institution Type:
Assisted Living Facility

Bond Issue Date:
1/1/2007

Amount Financed:
75 Million - 100 Million

Interest Rate:
Fixed

Bond Denomination:
5,000

Request Official Statement

Back to Projects List