...The new location sits on 19 acres and offers more than adequate parking with the ability to expand in the future. Church leadership will also be able to offer more ministry programs with the larger facility. We were happy to assist the church...
Chicago, IL (PRWEB) June 07, 2017
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $3,455,000 Series 2017 financing for Orlando World Outreach Center, a new client to Ziegler. Orlando World Outreach Center began in 2006 as a church plant of Every Nation Churches, a worldwide family of churches and ministries that was established in 1994.
The church has operated out of leased facilities since it began, and currently leases space for worship services, ministry operations and offices in downtown Orlando. Average weekly attendance has grown to nearly 600, with Senior Pastor Tim Johnson as the organizing and planting pastor. Under Pastor Johnson’s leadership, the church continues to grow. Feeling the strain of capacity and parking limitations at its current location, the church began searching to acquire its own space. The church located a property for purchase just outside of downtown, approximately eight miles southeast of the church’s current leased location.
Proceeds from the sale of the 2017 Series Bonds were used to acquire and renovate an approximately 19,800-square foot religious facility located at 4365 Kennedy Avenue, Orlando, Florida. The facility includes a foyer area, a 500-seat sanctuary, a fellowship hall and youth center, offices, classrooms and a kitchen. The renovation project comprises modernizations and improvements to the entire facility, including replacement of the HVAC system, plumbing fixtures, audio, visual and lighting systems, acoustical ceiling, flooring and carpet, along with electrical upgrades throughout, and the addition of restrooms, offices, classrooms, a café and a fully equipped commercial kitchen.
Additional renovations include replacement of the roof, painting of the interior and exterior, installation of building signage, and repaving of the driveway and sidewalk. The Kennedy Avenue site includes parking for approximately 300 vehicles. Upon completion of the renovations, the church will move all of its ministry operations to the Kennedy Avenue site and discontinue its current leased space.
Senior Pastor Tim Johnson, commented, “It has been an amazing journey to finally have the opportunity to acquire our first property as a church. I can’t think of a better institution to have worked with than Ziegler. Dave Schlosser has been outstanding to work with. We are grateful for this partnership, which is more than a business transaction. It has proven to be a Kingdom transaction.” Dave Schlosser, Managing Director in Ziegler’s religion finance practice, added, “Orlando World Outreach Center has operated out of rented facilities since the inception of its ministry in 2006. Their most recent location in downtown Orlando provided limited parking and lacked a sense of community. In late 2016, the church was presented with an opportunity to purchase an existing church facility in a residential neighborhood. The new location sits on 19 acres and offers more than adequate parking with the ability to expand in the future. Church leadership will also be able to offer more ministry programs with the larger facility. We were happy to assist the church and are excited about the future of Orlando World Outreach Center.”
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.
Ziegler is a privately held investment bank, capital markets, wealth management and proprietary investments firm, celebrating its 115th anniversary this year. Ziegler is ranked No. 1 in the country in healthcare/senior living underwriters by issuance and No. 4 by par amount (Thomson Reuters, 2016), and is ranked in the top 20 municipal underwriters in the country by volume (Bloomberg, 2016). Specializing in the healthcare, senior living, education and religion sectors, as well as general municipal and structured finance enables Ziegler to generate a positive impact on the communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States, Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading, wealth management and research. To learn more, visit http://www.ziegler.com.
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.
# # #