“ZFC utilized the HUD “REIT Rule” which permits 75% of the cash acquisition cost of the facility, plus capital improvements to be refinanced as existing indebtedness.”
Chicago, IL (PRWEB) February 22, 2012
Ziegler Financing Corporation (ZFC), the FHA-insured mortgage lending arm of Ziegler, is pleased to announce the successful closing of the $4,809,200 refinancing for Maple Ridge Health & Rehab Center. ZFC assisted Maple Ridge Health & Rehab Center, a 155-bed skilled nursing center, with the refinancing of their existing facility located in Milwaukee, WI. The facility is owned and operated by Extendicare Health Services, Inc., the U.S. subsidiary of Extendicare Real Estate Investment Trust, which operates 181 senior care facilities nationwide.
“The Maple Ridge transaction is part of an overall portfolio financing on behalf of Extendicare,” said Bill Mulligan, President of ZFC. “ZFC utilized the HUD “REIT Rule” which permits 75% of the cash acquisition cost of the facility, plus capital improvements to be refinanced as existing indebtedness.” ZFC successfully “married” the complicated HUD refinancing requirements pertaining to each subject as it pertained to Maple Ridge. In addition, ZFC is working to close additional loans for Extendicare.
ZFC has a dedicated team of FHA-insured financing professionals serving the for-profit, not-for-profit, and community-based organizations to deliver high-leveraged, low-cost, fixed-rate debt through FHA-insured financing programs.
For more information about Ziegler, please visit us at http://www.Ziegler.com.
The Ziegler Companies, Inc. (PINKSHEETS: ZGCO) together with its affiliates (Ziegler) is a specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion and education finance, as well as corporate finance and FHA/HUD. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler creates tailored financial solutions including bond financing, advisory, private placement, seed capital, M&A, risk and asset management. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.