Operated by Bucks County-based Wesley Enhanced Living, a retirement community in Media will undergo $15 million in upgrades while another campus in Doylestown will have $5 million spent on its facilities.
Wesley Enhanced Living, of Warminster, says the investments in its campuses will take place over the next two years, according to an Inquirer report, which said the company will borrow funds for the renovations.
In all, Wesley plans to borrow $126.6 million, with more than half being used to repay existing debt. The debt offering received a below-investment-grade “BB” rating from Fitch.
Known as Wesley Enhanced Living Main Line, the Media retirement community was previously known as Martins Run. It became part of Wesley several years ago when two nonprofits partnered.
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