Photo/rendering of National Senior Campuses

National Senior Campuses

Hawkins served as underwriter’s counsel on the $381 million, inaugural tax-exempt bond financing for the Obligated Group of National Senior Campuses, Inc. (“NSC”).  NSC is one of the largest senior living operators in the country and  provides governance, oversight, supervision and strategic planning for 16 continuing care retirement communities across the United States, serving an aggregate population of over 20,000 residents.  The members of the Obligated Group own and operate continuing care retirement communities in Virginia, New Jersey, Pennsylvania and Massachusetts.  Managed by Erickson Living Management, LLC, each member of the Obligated Group provides independent living, skilled nursing, memory care and assisted living services for individuals age 62 and over.  The bond proceeds were used to refund outstanding indebtedness of the members of the Obligated Group.  The bond issue is the largest fixed rate transaction ever to be issued publicly in the not-for-profit senior living sector.

Role Underwriter's Counsel
Distinction Largest fixed rate public bond issuance to ever to be issued in the not-for-profit senior living sector
Issuer Virginia Small Business Financing Authority
Issue Size $381 Million