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CSCDA Issues $187,230,000 in Tax-Exempt Bonds for Viamonte Senior Living


May 24, 2018

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $187,230,000 in tax-exempt bonds for Viamonte Senior Living, located in Walnut Creek, California.

About Viamonte Senior Living:
 
Viamonte Senior Living (Viamonte) is a new continuing care retirement community developed and managed by Northern California Presbyterian Homes and Services (NCPHS). NCPHS, a nonprofit organization, was established in 1958 in San Francisco, California.  NCPHS’s purpose is to improve the quality of life of older persons from all economic levels and cultural backgrounds. 

About the Financing:

CSCDA partnered with Bank of America Merrill Lynch and Orrick, Herrington & Sutcliffe to provide the $187,230,000 in AA- rated insured tax-exempt bonds.  The bonds were issued to finance the construction of Viamonte which will be comprised of 191 total senior accommodations, including 174 independent living apartments, 7 assisted living apartments and 10 memory care assisted living apartments in a 298,000 sq. ft. four-story building with 240 below grade parking spaces.

About CSCDA:

CSCDA is a joint powers authority created in 1988, and is sponsored by the California State Association of Counties and the League of California Cities.  More than 530 cities, counties, and special districts are program participants in CSCDA, which serves as their conduit issuer, and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $60 billion in tax-exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools, and other fundamental services.

For more information about CSCDA, please visit: www.cscda.org

For more information about NCPHS, please visit: www.ncphs.org

CLICK HERE to download a PDF version of this announcement

 
 
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