WhiteStone - A Continuing Care Retirement Community

Hawkins served as underwriter’s counsel in connection with a tax-exempt bond financing for WhiteStone: A Masonic and Eastern Star Community (“WhiteStone”), a non-profit continuing care retirement community located in Greensboro, North Carolina.  Whitestone was founded in 1913 and is the oldest life plan community in North Carolina. The 2020 bond offering enabled WhiteStone to fund a transformational repositioning and expansion project designed to address critical capacity issues.  Bond proceeds were used to add 67 new apartments and 24 assisted living units as well as perform renovations to WhiteStone’s skilled nursing facility to improve the mix of semi-private and private rooms. The bond issue was structured as three series of non-rated bonds.  

Role Underwriter's Counsel
Distinction Repositioning and expansion of the oldest life plan community in North Carolina
Issuer Public Finance Authority
Issue Size $73.3 Million