Ziegler served as the capital structure advisor in the placement of two bank loans totaling $21.795 million on behalf of Phorcys Capital Partners. The first financing was used to acquire Superior Residences of Clermont, a not-for-profit assisted living/memory care community in Clermont, Florida that was held and operated through a court-appointed receivership. Built in 2002, the community has a total of 114 units (140 licensed beds), comprised of 74 assisted living and 40 memory care units. The acquisition closed in April 2025, with Ziegler placing the acquisition and capital expenditure loan with Stride Bank. SRI Management is the third-party manager of the community.
The second financing was used to refinance Prosper at Wickliffe, a for-profit assisted living/memory care community in Wickliffe, Ohio. Originally built in 1979 as a hotel and converted to seniors housing in 2018, the 160-unit community was acquired from Tapestry Senior Living in April 2024 that stemmed from a distressed 142(d) bond financing. The price was $13 million, or $81,250 per unit. Ziegler also placed the loan with Stride Bank. Prosper Senior Living is the third-party manager of the community. Christopher Utz advised and negotiated the transactions.
