SQLC Announces Completion of Financing for The Barrington of Carmel

Sept. 6, 2012 - PRLog -- Senior Quality Lifestyles Corporation (SQLC), and its affiliate  Mayflower Communities working in partnership with St. Vincent Health, announces that financing has been completed for its latest project, The Barrington of Carmel. A 501(c)3 nonprofit life care retirement community, The Barrington of Carmel will be constructed upon a 19.5-acre campus located at Guilford Road off 116 Street. Financing was completed through the sale of $119,020,000 in revenue bonds.  B. C. Ziegler and Company served as bond underwriter for the transaction.  The announcement was made by Charles B. Brewer, president and CEO of SQLC.

“We are pleased to complete the successful financing of The Barrington and excited to have construction of the new community already underway,” said Brewer. “The Barrington will add to Carmel’s already superb reputation as one of the best places to live in the country.  The team supporting The Barrington is one the best in the industry, and I look forward to the day the community opens its doors.”    

A premier residential address close to local restaurants, shops and attractions, the community will have 134 independent living apartments, 56 residential style assisted living apartments, 26 memory support suites, and 48 skilled nursing beds. Construction is well underway, and the community is scheduled to open in 2013.

“The financing of The Barrington speaks highly of the reputation of Senior Quality Lifestyles Corporation and Mayflower within the financial community,” said Rich Scanlon, managing director, Ziegler Capital Markets, Senior Living Finance.  “The expertise these two organizations bring to this project will ensure The Barrington will provide local seniors with the best quality of life in Carmel.”

SQLC sponsors similar communities in Texas, which include Edgemere in Dallas, The Buckingham in Houston, Querencia at Barton Creek in Austin, Mirador in Corpus Christi, and The Stayton at Museum Way in Fort Worth.

According to Greystone Communities, the Irving, Texas-based development partner, the economic impact of the project for the Carmel community will be significant.  

“The Barrington will support the Carmel economy in a big way with a $49,700,000 construction contract,” said Mark Shegon, corporate vice president, development services for Greystone Communities.  Shegon projects at the peak of construction, Lecesse Construction will employ more than 300 construction personnel.
The level of service that will be provided to residents of The Barrington means an influx of jobs for the Carmel community as well.  “A hallmark of all of the SQLC communities is an emphasis on quality and hospitality.  After The Barrington opens, approximately 200 people will serve the residents and benefit from the Barrington’s operations,” said Shegon.

The Barrington will provide a variety of services and amenities, including fine dining, a bistro, fitness and wellness centers, creative arts studio, salon and spa, library, housekeeping, scheduled transportation and more. The community will be the only full service life care community serving Carmel. More than 150 future residents are already signed up and planning on moving into the Barrington of Carmel.  For information, visit www.TheBarringtonofCarmel.com or call the Information Center at (317) 706-6760.