The attractive interest rate environment allowed us to structure a financing for the church that combined both loans under a true 20-year fixed rate structure that provided for significant cash flow savings that can now be used for ministry purposes...
Chicago, IL (PRWEB) February 03, 2016
Ziegler, a specialty investment bank, is pleased to announce the successful closing of a $8,970,000 financing for Embassies of Christ Kingdom Ministries, Gary, Indiana, a long-standing Ziegler client.
Embassies of Christ began in 1990 and has grown to become one of the largest churches in the Lake County, Indiana area outside of Chicago. Ziegler was instrumental in providing capital to the church in 2006 in the form of a $7.6 million financing that allowed the church to construct a state of the art 1,500 seat worship center along with needed offices, classrooms and a gymnasium. This facility is in high demand, being regularly used not only for Sunday services, but also for guest speakers, community events and conferences.
One of the key missions of the church is providing aid and opportunities for the citizens of the greater Gary area in addition to spreading the Gospel. The church has formed subsidiaries that provide for Christian education, senior housing, economic development and job training. As part of this mission they own and operate a neighboring strip mall known as Diplomat Plaza and also operate the Ambassador Christian Academy, serving approximately 300 students in the community. The church engaged Ziegler to underwrite the 2016 financing in order to refinance the 2006 series bonds along with a conventional bank loan used to purchase Diplomat Plaza in 2007.
Scott Rolfs, Managing Director of Ziegler’s religion finance practice, stated, “The attractive interest rate environment allowed us to structure a financing for the church that combined both loans under a true 20-year fixed rate structure that provided for significant cash flow savings that can now be used for ministry purposes.”
“We’ve been pleased to partner with Ziegler for many years now. They understand ministry lending and have provided us with beneficial loan structures that allow us to fulfill our mission,” commented, Senior Pastor Cedric Oliver for Embassies of Christ.
Over the years numerous entities have entered and exited the church lending marketplace. Ziegler continues to be a long-term partner for churches and Christian schools as they have been for over 100 years.
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 of how Ziegler can help your organization with facilities financing, please contact Scott Rolfs at 800-558-1776, ext 6576.
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.