Chicago, IL (PRWEB) March 09, 2015
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $15,675,000 Series 2015 Bond issue for Sandals Church, Riverside, California.
Sandals Church, a new client to Ziegler, is a large and growing Southern Baptist congregation, founded in 1997 in the living room of Senior Pastor Matthew Brown and his wife Tammy. For the first four years of existence, the church met in a succession of rented facilities, finally landing in the gymnasium of California Baptist University, where the church services remained until 2010, when the church’s current facility was acquired and built out. Attendance at church worship services now exceeds 5,000 people on the weekends at two campuses.
Proceeds of the 2015 Series Bonds were used to refinance the ministry’s outstanding mortgage debt incurred to purchase and renovate the church’s existing 15-acre campus located on Palmyrita Avenue in Riverside, and to pay the costs of a construction and renovation project at the campus. The church campus is comprised of two ministry facilities with total space of approximately 185,000 square feet, as well as an excess land parcel located across the street from the two buildings. The scope of the construction and renovation project includes creating new 2,500-seat sanctuary, new administrative space, and an additional 350-space parking lot, relocating the youth ministry space, upgrading campus signage and purchasing various furniture, fixtures and equipment.
Dan Zimbardi, Executive Director of Sandals Church, commented, “Our experience with Ziegler was fantastic. Ziegler stood out from every other financial institution we had met with because they worked expeditiously, provided wise counsel in our decision-making process and ultimately helped Sandals Church further the mission God has given our lead pastor."
“Sandals Church represents the kind of client we really like to serve – fast growing, well managed, and financially healthy. The Sandals leadership was quick to grasp Ziegler’s dual value proposition of protection from interest rate risk and timely execution,” stated Bill Dodson, senior vice president in Ziegler’s religion finance practice.
Since our first financing in 1913, Ziegler has become a recognized leader in providing creative, tailored solutions to religious and educational institutions. Focusing on multidenominational places of worship, charter schools and K-12 private schools, Ziegler offers long-term, fixed-rate financing, tax-exempt financing and short-term, variable rate financing.
For more information about Ziegler, please visit us at http://www.Ziegler.com.
The Ziegler Companies, Inc., together with its affiliates (Ziegler), is a privately held, 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 municipal and structured 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.