Florida’s retirement empire to borrow $180M for next growth spurt

Florida’s most famous snowbird paradise is getting bigger.  The Villages, a 57,000-acre retirement community in Central Florida, is seeking to issue nearly $180 million in high-yield debt financing to fund more housing, Bloomberg reported. The bond proceeds will finance 3,860 new residential units, a 27-hole Championship golf course and recreation centers, among other amenities, the outlet reported. The unrated deal is expected to price Tuesday.  About 170,000 people live in The Villages, which is restricted to residents 55 and older, making it the largest retirement community in the world. Between 2010 and 2020, it was one of the fastest growing […]

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