Ziegler, a specialty investment bank, is pleased to announce its role as exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of BrightStar Senior Living Fort Wayne, a 41-unit assisted living and memory care center located in Fort Wayne, Indiana (Community).
CHICAGO, Dec. 7, 2023 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce its role as exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of BrightStar Senior Living Fort Wayne, a 41-unit assisted living and memory care center located in Fort Wayne, Indiana (Community).
The Community was developed by Marquee Capital and has been operated by BrightStar Senior Living since it opened in 2018. The 3.25-acre property is located in the Pine Valley neighborhood, eight miles north of downtown Fort Wayne, and includes private assisted living and memory care apartments and suites.
Marquee Capital is the real estate company affiliated with Marcus Investments, LLC, the Marcus' Family Office.
Lutheran Life Villages (LLV) purchased the property and took over operations on December 1, 2023. LLV is a local, faith-based nonprofit organization that has served Northeast Indiana for more than 90 years. The organization operates five senior communities across Fort Wayne and Kendallville, and is excited to expand their Assisted Living and Memory Care services. Alex Kiefer, President and CEO of Lutheran Life Villages, said, "The addition of this new location in North Fort Wayne increases our ability to provide residents with the specialized care they need, when they need it. We are excited to welcome BrightStar Senior Living staff members, residents and their families into the Lutheran Life Villages family of communities."
Nick Glaisner, Managing Director in Ziegler's Senior Housing & Care Finance Practice commented, "It was an honor and pleasure working with Marquee on another successful divestiture. Lutheran Life Villages is the ideal successor for Brightstar residents and staff." Ziegler conducted a focused marketing process for the Community and negotiated pricing that represented a 6% capitalization rate based on historical cash flow (as marketed).
Ziegler's Senior Housing & Care Finance Practice brings its experience and expertise to senior housing and post-acute care clients. By offering a comprehensive suite of products for debt, equity and M&A services, our professionals provide creative solutions that meet your organization's capital goals.
For more information about Ziegler, please visit us at http://www.ziegler.com.
About Ziegler:
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. It has a unique focus on healthcare, senior living and education sectors, as well as general municipal and structured finance. Headquartered in Chicago with regional and
branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. 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.
Media Contact
Christine McCarty, Ziegler, 3125961617, [email protected], www.ziegler.com
SOURCE Ziegler
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