Acquiring the Hunter Hill Campus provides the Church with the space to accommodate future ministry growth...
Chicago, IL (PRWEB) April 21, 2016
Ziegler, a specialty investment bank, is pleased to announce the successful closing of a $3,325,000 Series 2016 financing for Daystar Church, a new client to Ziegler.
Daystar Church began in 1997. Current Lead Pastor, Allen Holmes, came to the church in October 2000 when the attendance was 35 people in a rented facility. The church has grown to a weekend attendance base of approximately 1,800 with a multi-site church model that currently operates from multiple campuses located throughout Greensboro. In 2015, the church entered into an agreement to purchase an additional site intended to replace its primary ministry campus which is located near downtown Greensboro. The new site is located approximately five miles from the Downtown Campus in an area of Greensboro called Hunter Hill. The Hunter Hill Campus is an existing church campus, with multiple ministry buildings on approximately 14 acres of land.
Proceeds of the 2016 Series A Bonds were used to acquire the Hunter Hill Campus and refinance existing debt. Following the acquisition of the Hunter Hill Campus, the church intends to complete certain renovations to the main sanctuary, including leveling the floor, expanding the stage area, and upgrading the audio visual and lighting systems. Additionally, the church will raze the existing original sanctuary and an adjoining addition on the campus. A two-story children’s and youth building, called the Next Generation Center, will then be constructed on this footprint as well as a connector building to serve as a fellowship/atrium area. Upon completion of the project, the church will move the Downtown Campus ministry operation to the Hunter Hill Campus.
“Acquiring the Hunter Hill Campus provides the Church with the space to accommodate future ministry growth,” commented Steve Hron, Director of Ziegler’s religion finance practice.
Tom Mizelle, Executive Pastor, stated, “Acquiring the Hunter Hill Campus was an important piece to our ministry vision. Ziegler tailored a financing structure to fit our specific needs. They extended wise counsel throughout the process, offered flexible terms and provided a historically low fixed interest rate.”
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.
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