The Woodlands at Furman Refinances with $57.5 Million in JEDA Bonds

Posted on November 8, 2017 - News, Success Story

Greenville, SC — Greenville County

Upstate Senior Living, Inc., operator of The Woodlands at Furman, is using a $57.5 million bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to refinance previous investments in the Greenville continuing care retirement community.

The tax-exempt bond issue will be used to retire 2007 and 2012 bonds used to finance capital projects at The Woodlands at Furman, a 22-acre site adjacent to Furman University. The only locally owned, not-for-profit lifecare senior living community in the Upstate, currently employs 225 people and offers residents services from independent living through skilled nursing.

“Being able to refinance our debt obligations at today’s favorable terms goes a long way toward providing the financial stability that helps ensure our overall ability to provide our residents the best in facilities and personal service.”
Kevin Parker, Executive Director of The Woodlands at Furman

“Working with The Woodlands at Furman has been a privilege, because of the quality of life it provides to the people it serves, and what that means to the entire Upstate community,” said Mitchell Johnson, Bond Counsel with Haynsworth Sinkler Boyd, P.A., in Charleston.

“Bond refinancing is a strategically sound way for organizations and institutions of all kinds to take advantage of current market conditions. We’re pleased to again help The Woodlands at Furman do just that,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.