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PFA Closes $175 MM Financing for Mary’s Woods at Marylhurst, Inc.

The Public Finance Authority (PFA) has provided $175 million to finance 501(c)(3) nonprofit revenue bonds for Mary’s Woods at Marylhurst, Inc.. Mary’s Woods will use the bond proceeds to refund existing bonds and construct, develop, improve, renovate and equip a continuing care retirement community located in Lake Oswego, Oregon. Today, the Community consists of up to 266 independent living units, 50 assisted living units, 23 skilled nursing beds, and 22 specialty care (dementia) beds on 28 acres of the 75-acre campus owned by The Society of the Sisters of the Holy Names of Jesus and Mary.

Mary's Woods is a caring community inspired by the vision and values of the Sisters, providing a continuum of housing, health and educational services. The facility responds to the Gospel's vision of full development for every individual at each life stage. As well as, seeks to ensure the dignity, independence, well-being and security of older persons through the provision of a range of service and educational options.

PFA partnered with Orrick, Herrington & Sutcliffe, LLP and Ziegler Investment Banking to provide financing to Mary's Woods at Marylhurst. The bonds financed will help with the expansion of the community facilities and will help refinance a portion of the current outstanding debt at a more competitive rate.