Chicago-based investment bank Ziegler continues its busy month, arranging acquisition financing for Well-Spring Obligated Group. Ziegler closed three taxable loans for the company to acquire a CCRC in Greensboro, North Carolina, and expand its services as a multi-site senior living operator. Also acting as the swap advisor, Ziegler was able to facilitate the execution of a forward-starting swap ultimately entering into the swap three months in advance of closing which resulted in the interest rate being 0.55% lower than closing. Pinnacle Bank served as the lender for the transaction.
Built in 2003, the target sits on 47 acres in Burlington, North Carolina. Amenities include a woodworking shop, aquatic center, and a theater, among others. The Well-Spring Group is a not-for-profit organization and serves as the parent organization to Well-Spring Solutions, Well-Spring, A Life Plan Community, The Village at Brookwood and PACE of the Triad.
