Shell Point Retirement Community Financing Case Study

This case study details the financing activities related to Shell Point Retirement Community, specifically focusing on the Series 2024C Bonds issued by the Lee County Industrial Development Authority. Shell Point, a not-for-profit corporation, is sponsored by The Christian and Missionary Alliance, Inc. and consists of various living units and amenities located in Fort Myers, Florida. The proceeds from the Series 2024C Bonds will be utilized to construct a new Town Center, which will include administrative facilities and serve as a hurricane shelter for residents. The bonds are rated BBB+ by S&P Global Ratings and Fitch Ratings, and are structured as tax-exempt, fixed-rate bonds. Ziegler served as the sole underwriter for this bond issuance, marking the tenth financing event for Shell Point since 1999. The case study outlines the strategic partnership between Ziegler and Shell Point, emphasizing the financial structuring that enables the community's redevelopment and expansion projects.