Ziegler Closes $12 Million United Methodist Retirement Homes Financing

Ziegler, a specialty investment bank, is pleased to announce the successful closing of a $12,025,000 Series 2014 tax-exempt transaction issued by the North Carolina Medical Care Commission, a first of a series of tax-exempt non-bank qualified and bank qualified loans, for The United Methodist Retirement Homes (UMRH).

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UMRH was able to take advantage of the expanded bank qualified regulations in 2009 and 2010 to significantly improve its capital structure. Ziegler is pleased to assist UMRH in maintaining the bank qualification status on its existing loans...

Chicago, IL (PRWEB) September 04, 2014

Ziegler, a specialty investment bank, is pleased to announce the successful closing of a $12,025,000 Series 2014 tax-exempt transaction issued by the North Carolina Medical Care Commission, a first of a series of tax-exempt non-bank qualified and bank qualified loans, for The United Methodist Retirement Homes (UMRH).

UMRH is a multi-site CCRC operator with three campuses in North Carolina (Croasdaile Village located in Durham; Cypress Glen located in Greenville, NC; and Wesley Pines located in Lumberton, NC). Combined, the three campuses have a total of 930 units consisting of 626 independent living units, 105 assisted living units and 199 skilled nursing units. UMRH is ranked as the fourth largest not-for-profit operator of senior living units in NC and 81st in the US according to the 2013 LeadingAge Ziegler 100. All three of UMRH’s Communities have received EAGLE Accreditation given by the United Methodist Association.

Ziegler served as the placement agent for a series of transactions that impacts four existing UMRH debt obligations. Proceeds from the Series 2014 Bonds, the first in the series of transactions, will be used to: a) refund a portion of the outstanding Series 2005B Bank Qualified Loan; b) refund in their entirety the outstanding Series 2004A Fixed-Rate Bonds; c) refund a portion of the outstanding Series 2005A Bonds and d) pay certain costs of issuance associated with the refinancing.

Tommy Brewer, Managing Director in Ziegler’s senior living finance practice, commented, “UMRH was able to take advantage of the expanded bank qualified regulations in 2009 and 2010 to significantly improve its capital structure. Ziegler is pleased to assist UMRH in maintaining the bank qualification status on its existing loans while also refunding its existing Series 2004A and Series 2005A fixed-rate bonds for savings. The proactive leadership of UMRH’s management team, with assistance from Life Care Services, has resulted in tremendous benefits to the wonderful residents of the organization’s three communities.”

Ziegler is one of the nation’s leading underwriters of financing for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, investment management, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication.

For more information about Ziegler, please visit us at http://www.Ziegler.com.

About Ziegler:
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, as well as general and structured municipal finance. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, corporate finance, FHA/HUD, strategic advisory services and research. 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.
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