Wayzata, Minn., to sell $98.3 million senior housing revenue bonds

By Sheri Kasprzak

New York, April 13 - The City of Wayzata, Minn., plans to price $98,295,000 of series 2012 senior housing revenue bonds for the Folkestone Senior Living Community, according to a preliminary official statement.

The offering includes $75.18 million of series 2012A senior housing revenue bonds and $23,115,000 of series 2012B senior housing entrance deposit revenue bonds.

The bonds will be sold on a negotiated basis with Piper Jaffray & Co. as the senior manager.

The maturity dates have not been set.

Proceeds will be loaned to Wayzata Bay Senior Housing Inc. for the construction, equipment and renovation of the Folkestone Senior Living Community.

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