Lourdes Senior Community Secures $32.5 Million for Expansion

The Series 2026 financing consists of $14.45 million in refunding revenue bonds and $18 million in bank draw-down bonds, both structured as tax-exempt direct placements with WesBanco. These funds allow the organization to retire its 2019 debt while breaking ground next month on a new residential building. The bonds carry a 10-year credit commitment and are set to mature in 2046.

Operated by the Dominican Health Care Corporation, the Waterford facility has served the region since 1965. Its current infrastructure spans 221 units, covering a full continuum of care from independent living to skilled nursing and memory care. Rich Acho, President and CEO of the community, noted that the expansion directly addresses the increasing demand for high-quality housing driven by the Baby Boomer demographic. Tom Meyers, Senior Managing Director at Ziegler, credited the successful terms to the organization's mission-driven management, which helped secure a customized interest rate hedge despite broader market volatility.