Ziegler Refinances Two AL Communities
Columbia Pacific Advisors refinanced two of its seniors housing communities, enlisting Ziegler as its exclusive financial advisor to close the transactions. The communities in question are The Landing at Lake Worth in Lake Worth, Florida, and The Linden at Stonehaven Square in Tulsa, Oklahoma. Each 134-unit community offers assisted living and memory care services. Chicago Pacific Advisors developed the Florida property in late 2018 and the Oklahoma property in late 2017 as part of its strategy to expand into the southern United States. To refinance existing the construction loans, Ziegler’s Senior Housing & Care Finance Practice closed two bridge debt placements totaling $37.75... Read More »
Ziegler Continues Active Month with Virginia Financing
Ziegler is continuing its active month with the arrangement of $71.33 million of Series 2021A and 2021B bonds for a life plan community in Williamsburg, Virginia. Williamsburg Landing, founded in 1982, consists of 317 independent living apartments, 72 assisted living units, 24 memory care units and 73 skilled nursing units. Prior to this loan, Williamsburg Landing had 14 separate debt obligations provided by three banks totaling nearly $100 million. These new bonds will refinance nine of the existing bank obligations in an effort to simplify their capital structure. The proceeds of the bonds will be used to refund nine existing bank obligations, pay swap termination payments,... Read More »
Ziegler Arranges Two More Financings
Ziegler has closed two financings for communities in Wisconsin and Virginia. First, Ziegler arranged $38.68 million of Series 2021 fixed-rate revenue bonds for the construction of a new seniors housing community in Muskego, Wisconsin. The financing was provided to PHW Muskego, Inc., a not-for-profit affiliate of Presbyterian Homes and Services. They are non-rated, tax-exempt serial and term bonds with a 40-year maturity. Proceeds of the bonds will be used to finance the construction of Stair Crest community, fund a debt service reserve fund, fund 18 months of interest on the bonds and pay costs of issuance associated with the loan. Stair Crest is set to contain 80 independent living units,... Read More »
Ziegler Closes Financing for Atlanta CCRC
Ziegler closed $124.8 million in Series 2021A/B fixed-rate bonds and $45,800,000 in Series 2021C Direct Bank Bonds for an Atlanta, Georgia-area CCRC. Opened in the early 1960s, Canterbury Court is a CCRC located in the Buckhead-Brookhaven neighborhood. It was started by the All Saints Episcopal Church and St. Luke’s Episcopal Church when they noticed a need for “persons of mature years to live in comfort, with a secure future.” Since opening its doors in 1965, Canterbury Court has grown to include 187 independent living units, 18 personal care (assisted living) units and 42 skilled nursing beds. It is undergoing a major expansion project that will replace the existing healthcare... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
