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Brio Living Services Secures $113.5 Million Financing for Major Campus Repositioning
Brio Living Services, a senior living organization, has secured $113.5 million in financing facilitated by Chicago-based Ziegler. The funding will support Phase I of Brio’s multi-phase repositioning project at its Porter Hills Village campus located in Grand Rapids, Michigan.
The project includes the construction of a new 250,000-square-foot building that will replace existing facilities, along with the addition of 57 independent living apartments. Construction is already underway, with completion expected by the end of 2027.
The financing was executed through the issuance of Series 2025 Bonds, structured as a single-bank, tax-exempt direct placement. The bonds carry a synthetic all-in pay-fixed interest rate of 4.178% through a ten-year commitment period.
“This $113.5 million financing for the Porter Hills Village repositioning project represents Ziegler’s seventeenth financing with Brio or one of its progenitor organizations since 2009,” said Tom Meyers, Senior Managing Director at Ziegler.
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