The Villages Seeks $180 Million Cash Infusion To Fund 800-Acre Expansion of the Florida Retirement Community

The Villages, the largest master-planned community in the United States, is taking strides to become even bigger following a recent investment meeting.Already sitting on 57,000 acres with over 170,000 residents, the Florida development aimed at retirees plans to issue almost $180 million in high-yield debt to finance the construction of thousands of new homes on an 800-acre expansion.At an investor presentation this week, The Villages revealed that the upcoming bond offering will fund the construction of 3,860 new residential units as well as new golf courses and recreation centers, according to a preliminary offering memorandum dated Oct. 7.The Villages is seeking funding via Special Assessment Revenue Bonds, referred to as Series 2026 Bonds, which can be purchased in $5,000 denominations.Interest on the 2026 Bonds will be paid biannually on each May 1 and Nov. 1, beginning May 1, 2027. The bonds will mature fully at various dates between 2031 and 2056.The construction cost of the upcoming project is estimated to total $314 million, of which $157 million will be funded by the 2026 Bonds and $157 million will be funded by The Villages Development Company, LLC, according to the Prel...