Friendship Village gets high marks, praise from investors on bond sale


Building rendering for the Devonshire Building, with 76 new senior living apartments, part of the Friendship Village Sunset Hills expansion. Photo courtesy of Friendship Village.

Friendship Village received a positive response from investors when it issued bonds to complete financing for expansion projects of its St. Louis-area senior living campuses. During the course of the bond sale, the retirement community received offers for twice the $201 million requested.

Currently, Friendship Village is undergoing expansions at both its Sunset Hills and Chesterfield locations to add new space and amenities for current and potential residents.

Work is scheduled to be completed in 2020, with 93 percent of new construction already sold.

“We’re so happy to see the confidence shown by residents and partners in longevity and stewardship of Friendship Village,” said Tim Vosse, chief financial officer of FV Services, Inc., the management company for Friendship Village.

Friendship Village Sunset Hills and Friendship Village Chesterfield were also both rated among America’s best nursing homes, according to a recent study by U.S. News & World Report that evaluated and rated more than 15,000 nursing homes nationwide.

Both locations received high scores in the overall ranking, receiving five out of five marks.

Less than 2 percent of nursing homes in the St. Louis area received this ranking.

“This is great news for current and future residents of Friendship Village because it confirms our commitment to providing the best senior care available,” CEO Terry Walsh said in a news release. “It is also a great recognition of our dedicated staff.”

Overall ratings are based on health inspection findings, nursing staffing and medical quality measures. To be on the list, nursing homes needed to receive an overall score from the Centers for Medicare and Medicaid Services in July and a staffing rating in either April of July to be eligible.

“I am happy to hear that Friendship Village is getting the recognition it deserves,” said Shirley Brady, Friendship Village resident. “I can’t say enough great things about the care center staff. I live in a villa and volunteer there. They are five-star and do an excellent job.”