Ziegler, a specialty investment bank, served as exclusive sell-side financial advisor in the sale of The Village at Marymount, a 246-bed/unit senior living and skilled nursing campus in Garfield Heights, Ohio.
Built in 1952, Marymount is a faith-based, not-for-profit CCRC established by the Sisters of St. Joseph of the Third Order of St. Francis. Given the challenging economic times and the headwinds plaguing the skilled nursing industry, Ziegler identified a pool of qualified buyers that could manage a campus and absorb interim operational losses until the transaction was consummated. The acquiring party purchased the property and took over operations on June 30, 2023. The buyer was a privately held owner and operator based in Lakewood, New Jersey. It assumed approximately $16 million of HUD debt as part of the transaction.
