The value achieved is further evidence of the growing interest in senior housing beyond the country’s largest MSAs...
Chicago, IL (PRWEB) July 23, 2015
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the sale of the Brentwood Portfolio (the Portfolio) on behalf of SLCM, LLC. (SLCM). SLCM is a developer and provider of senior living services and quality senior care in Indiana and Michigan.
The Portfolio included six high-quality, senior living communities located in mid-sized markets throughout Northern Indiana and Southwestern Michigan, previously managed by Brookdale Senior Living. The Portfolio was purchased by Griffin-American Healthcare REIT III. “The value achieved is further evidence of the growing interest in senior housing beyond the country’s largest MSAs,” comments Bill Mulligan of Ziegler’s corporate finance team.
Ziegler served as the exclusive advisor to SLCM in the sale of the Portfolio. The Portfolio totaled 653 rental units, including over 464 licensed assisted living/memory care units, 159 independent living apartments and 30 villas. SLCM is a family-owned and controlled enterprise. The corporate finance team has executed multiple engagements with previous generations of the family; this engagement represents the third time SLCM has engaged Ziegler’s corporate finance team.
Ziegler worked closely with the Brentwood ownership and senior management team to determine probable value, market the business to logical and qualified investors and operators, coordinate management presentations and due diligence, provide transaction guidance and assist in definitive agreement negotiations to accomplish a successful closing. Ziegler was able to identify a number of companies interested in the Brentwood Portfolio, and secured multiple proposals to acquire the portfolio. Ultimately, SLCM chose Griffin-American Healthcare REIT III as their buyer. The transaction closed in three phases as Ziegler helped navigate disparate state licensure processes, operator transition, and a Fannie Mae loan assumption. Ziegler also introduced the buyer to Ridgeline Management Company, which will provide third-party management services. Ridgeline, based in West Linn, Oregon, manages 21 independent living, assisted living and memory care properties in nine states throughout the country.
The Portfolio was acquired under a RIDEA structure, which allows for Griffin-American Healthcare REIT III to participate in both the rental and operational cash flow of each facility while relying on Ridgeline Management Company as the third-party manager.
Ziegler’s Corporate Finance team is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of senior living, post-acute care, hospitals, healthcare services and information technology, Ziegler is one of the most active M&A firms offering innovative sell-side, buy-side, recapitalization, restructuring, private equity placement and strategic partnering services.
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.
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