The Villages, a 57,000-acre Florida retirement community, is looking to issue almost $180 million in high-yield debt to finance more homes.
Built for residents at least 55 years old, the Villages has about 170,000 people, making it the largest community of retirees in the world. It was one of the fastest growing metropolitan areas in the US between 2010 and 2020.
The proceeds of the upcoming bond offering will be used to finance the construction of 3,860 new residential units and add amenities like 27 holes of Championship golf and recreation centers, according to a presentation for investors. The deal, which is unrated, is expected to price Oct. 20…