Brio Living Services, with dual headquarters in Chelsea and Grand Rapids, has secured $113.5 million in financing in the form of Series 2025 Bank Direct Placement Draw Down Bonds from Ziegler, a Chicago-based underwriter of financing for not-for-profit senior living providers.
Proceeds from the Series 2025 Bonds will be used to finance Phase I of Brio’s multi-phase repositioning project at its Porter Hills Village (PHV) campus in Grand Rapids. The effort is part of Brio’s long-term master plan to modernize and enhance the PHV community, ensuring it remains competitive and aligned with market expectations for senior living.
The master plan, developed over the past five years, envisions new facilities and amenities that will be designed to promote a household model of care, expand independent living options, and enhance wellness, dining, and life enrichment spaces.
Phase 1 is the largest and most transformative component of the plan and will span 36 to 42 months and include infrastructure upgrades, new roadways, and the construction of a modern multi-use building with independent living flats, assisted living, memory care, and skilled nursing accommodations.
“We are excited that the Porter Hills project is now becoming a reality for our residents and the broader community,” says Kalen Carlson, CFO at Brio. “Porter Hills Village will be exceptionally positioned to serve residents for many more years. Because of Huntington Bank, Ziegler, and other key partners, we were able to secure competitive financing.”
Brio Living Services also operates Chelsea Retirement Community, The Cedars of Dexter, Cook Valley Estates in Grand Rapids, and Meadowlark Retirement Village in Sparta, north of Grand Rapids.
For more information about Brio Living services, visit mybrio.org.
