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MassDevelopment Issues $8M Bond To Revere Nursing Care Center

Jul 24, 2012 | Reprints | Unlock Link | Print

MassDevelopment has issued an $8 million tax-exempt bond on behalf of Lighthouse Nursing Care Center, a 123-bed skilled nursing facility in Revere.

The organization will use bond proceeds to expand and renovate its facility, increasing the size of the residents’ rooms and adding office space. Lighthouse Nursing Care Center will also use bond proceeds to buy furniture, furnishings, and equipment, as well as refinance a previous bond.

"Lighthouse Nursing Care Center serves as a beacon for nursing homes, achieving high ratings in quality care for Commonwealth seniors," said MassDevelopment President and CEO Marty Jones in a statement. "This low-cost financing has helped human service providers around Massachusetts, and we’re pleased to help Lighthouse as the Center expands."

Commercial & Industrial