Ziegler Secures Bond Closing For Ohio Not-For-Profit
The Ziegler team closed a bond issuance for Community First Solutions to fund an expansion and capital improvements project across its senior living operations in Ohio. A not-for-profit company operating in Butler County, Community First Solutions (CFS) operates two CCRCs and a post-acute rehabilitation center in Hamilton, Ohio, plus an array of behavioral health services, pharmacy services, meal delivery service and other community-based supports in the state. There were a number of individual bank notes that had various rates and maturities across CFS’ operation, so Ziegler consolidated that debt by issuing two series of bonds through the Butler County Port Authority, including $15.31... Read More »
Ziegler Arranges Bond Financing For CCRC Expansion
Ziegler placed and closed a $38 million revenue bond series for Christian Retirement Homes to finance an expansion of its CCRC campus in Lincoln, Nebraska. Opened in 1968, the not-for-profit community has grown over the years to now include 121 independent living units, 53 assisted living units and 22 skilled nursing beds in four residential buildings. In 2017, Transforming Age affiliated with the not-for-profit to provide governance, management and financial support of the campus. Management decided to expand with a new four-story building that will house 50 independent living units. Plus, they wanted to convert 10 assisted living units into five penthouse independent living units.... Read More »
Ziegler Closes Nine-Figure Refi
Investment banking firm Ziegler closed a $114.82 million tax-exempt refinancing for Springpoint Senior Living, a major regional not-for-profit provider based in New Jersey. Springpoint operates eight CCRCs (LPCs) in New Jersey and Delaware, 19 affordable housing communities, a home care agency and a continuing care at home program. Springpoint formed a new obligated group for this refinancing, which consists of the corporate entity plus the six CCRCs in New Jersey. The new financing repaid outstanding debt and also reimbursed the obligated group for $25 million in recent capital expenditures. The $114.82 million bond issue was rated BBB+... Read More »
Ziegler Secures Bond Refinance for Adventist Healthcare
Utilizing a relationship stretching back nearly two decades, not-for-profit Adventist Healthcare worked with the team at Ziegler to refinance its outstanding bonds. Issued through the Maryland Health and Higher Educational Facilities, the transaction consisted of $18.725 million in fixed-rate bonds and another fixed-rate bond issue of $48.12 million with a delivery date in October 2021. Proceeds of this financing will be used to current refund the Series 2014A bonds, forward refund the Series 2011A bonds, and pay costs of issuance. Adventist HealthCare, which operates three acute care hospitals, a behavioral/psychiatric hospital, and a rehabilitation hospital, was also able to achieve... Read More »Schedule a demo
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