Bill Mulligan, President of ZFC stated, “This financing overcame some delicate issues with the existing tenant and required a “team effort” by Ziegler, Ocadian, the respective legal advisors, and the operator”.
Chicago, IL (PRWEB) March 19, 2012
Ziegler Financing Corporation (ZFC), the FHA-insured mortgage lending arm of Ziegler, is pleased to announce the successful closing of a $30,102,600 portfolio refinancing for Ocadian Care Centers, Inc. The Ocadian Centers are designed to provide long-term and sub-acute healthcare services including skilled nursing care, dementia care, and hospice services.
ZFC assisted Ocadian with refinancing it’s five owned centers located throughout the San Francisco Bay area, utilizing FHA’s refinancing program under Section 232/223 a(7). The portfolio is leased to and operated by a third-party public company. Ziegler and Ocadian successfully navigated HUD’s newer LEAN requirements for previously HUD-financed centers and the issues associated with a public company tenant. Ziegler was able to extend the loan term and achieved a 40% reduction in interest rate resulting in material monthly cash flow savings for Ocadian.
This engagement reflects the fourth time Ziegler has been hired by Ocadian for financing or advisory services. Bill Mulligan, President of ZFC stated, “This financing overcame some delicate issues with the existing tenant and required a “team effort” by Ziegler, Ocadian, the respective legal advisors, and the operator”.
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 ZFC please visit us at http://www.Ziegler.com/fha.
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.