"Funding a project while locking in historically low rates for 30 years is not something most other church financing institutions can do. We look forward to a long and productive partnership with Crossroads,” stated Bill Dodson, SVP, Ziegler.
CHICAGO, IL (PRWEB) August 18, 2016
Ziegler, a specialty investment bank, is pleased to announce the successful closing of a $10,700,000 Series 2016 financing for Crossroads Community Church of Santa Clarita Valley, Santa Clarita, California, a new client to Ziegler.
Crossroads Community launched public services as an independent community church in September of 2006, meeting at a local high school. The Church grew quickly and soon leased a commercial space in Santa Clarita in 2008, when attendance reached over 200 people. Since that time, the Church has grown to more than 1400 in attendance at three weekend services. In April 2016 the Church entered into a lease agreement with an option to purchase a 56,000-square foot former industrial and warehouse site in Santa Clarita, with a plan to remodel the site and relocate Church operations.
Proceeds of the 2016 Series Bonds were used to finance the purchase of the facility and pay the costs of the construction project. The financing provided a 30-year, fully amortized, fixed rate financing structure that eliminated interest rate risk and coordinated project funding with the Church’s successful capital campaign efforts.
Steve Stark, Church Administrator of Crossroads Community Church, commented, “After investigating several financing options, we determined that Ziegler offered the best financial package for Crossroads. The structure of the financing was exactly what Crossroads needed to accomplish our goal of the purchase and build out of our first permanent facility.”
“The project Crossroads planned was tailor made for the flexible and creative financing structures in which Ziegler specializes. Funding a project while locking in historically low rates for 30 years is not something most other church financing institutions can do. We look forward to a long and productive partnership with Crossroads,” 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.
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