HOUSTON – Bracewell LLP represented Presbyterian Village North (PVN), a Texas nonprofit continuing care retirement community located in Dallas, in connection with the successful closing of its $91.860 million Series 2018 bonds. Ziegler, a specialty investment bank, served as the underwriter for the bonds.
PVN sits on a 63-acre campus that currently consists of 89 buildings with 295 independent living units, 101 assisted living units, 44 memory support units and 172 skilled nursing beds.
Proceeds of the Series 2018 bonds, along with trustee funds on hand, were used to refund all outstanding debt, fund a project fund for pre-finance costs related to a future expansion, fund a debt service reserve fund and pay costs of issuance.
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Bracewell lawyers involved in the transaction include:
Partners: Jonathan C. Leatherberry and Brian P. Teaff
Associate: Andrew T. Prihoda