New Financing—Tuscan Gardens of Palm Coast

Real Income. Exclusive Opportunity. 

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Artist’s rendering

$41,040,000*
Capital Trust Agency
Senior Living Revenue Bonds
Tuscan Gardens of Palm Coast Project
Series 2017
Series 2017A Tax-exempt Senior Debt: $36,240,000
Series 2016B Taxable Senior Debt: $2,075,000
Series 2016C Tax-exempt Subordinate Debt: $2,725,000

About Tuscan Gardens of Palm Coast
HJ Sims is pleased to underwrite the above new issue. Located in the City of Palm Coast (Flagler County), Florida, Tuscan Gardens of Palm Coast is a new development with an anticipated total of 130 units (166 beds), comprised of 86 assisted living units (110 beds) and 44 memory care units (56 beds), with additional land available for expansion in the future to build an Independent Living Facility. Construction of the Project is expected to be completed by August 2018. The Project will be owned and developed by Tuscan Gardens Senior Living.

-The city of Palm Coast is located 30 miles north of Daytona Beach on the northeast coast of Florida with a population of approximately 81,000.
-The Project will consist of the construction of three buildings totaling 152,000 square feet on an approximate 16-acre site.
-The Project Site is adjacent to Grand Haven, a master-planned community of approximately 1,478 total acres originally approved for 1,901 dwelling units, and is approximately one-half of a mile from the north entrance to Grand Haven.
-Within Grand Haven, there is a “Village Center” with dining, activity rooms, aquatics center, fitness center, tennis facility, bocce courts, croquet courts, playgrounds and open space.
-Tuscan Gardens of Palm Coast residents may enjoy the amenities at Grand Haven. A large portion of the Grand Haven tract will remain as open space. An extensive pedestrian trails system runs through the community and connects to the greater Palm Coast Trail System.
-Tuscan Gardens of Palm Coast is the sister community to Tuscan Gardens of Venetia Bay which opened in October 2016 and has begun moving in its residents.

About the Bonds
Capital Trust Agency will issue approximately $41,040,000* par value of Bonds:

-Series 2017A Tax-exempt Senior Bonds are expected to have maturities in 2031, 2037 and 2052*
-Series 2017B Taxable Senior Bonds are expected to have a maturity in 2026*
-Series 2017C Tax-Exempt Subordinate Bonds are expected to have a maturity in 2047 with an optional tender in 2026*
-The Series 2017 Bonds are non-rated
-Minimum denomination of $25,000 and any integral multiple of $5,000
-The Series 2017 bonds have restrictions on who may purchase the bonds. Initial purchases of the bonds are restricted to Qualified Institutional Investors and Accredited Investors, and require an investor letter to be signed and delivered.
-The proceeds of this new issue will be used for the construction and equipping of the new facility, as well as funding of the various reserve funds and capitalization of interest.
-The Series 2017 Bonds are secured by a first lien mortgage on the premises, as well as a first lien on certain revenues. In addition, several reserve funds will be pledged for the benefit of the bondholders.

For more information including risks, please read the Preliminary Official Statement in its entirety. Please see the investor restrictions noted under ‘About the Bonds’.  If you have interest in purchasing bonds in the new issue, please contact your HJ Sims financial advisor, as soon as possible or call 888.841.3871. We anticipate a formal pricing of the issue during the week of March 20, 2017.


No dealer, broker, salesperson, or other person has been authorized to give any information or to make any representation other than those contained in the Preliminary Official Statement, and, if given or made, such other information or representation should not be relied upon as having been authorized by the Issuer, the Borrower, or the Underwriters. The information set forth herein has been obtained from the Issuer, Borrower, and other sources that are believed to be reliable, but is not guaranteed as to accuracy or completeness by, and is not construed as a representation of, the Underwriters. The information contained herein is subject to change without notice. Under no circumstances shall this constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering or solicitation will be made only to investors pursuant to the Preliminary Official Statement, which should be read in its entirety. Investments involve risk including the possible loss of principal. HJ Sims is a member of FINRA and SIPC and is not affiliated with Tuscan Gardens of Palm Coast.*Subject to change
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