Ziegler, a specialty investment bank, is pleased to announce its role as exclusive financial advisor to Benevolent Corporation Cedar Community (dba, Cedar Community, hereafter "CC") on the sale of Cedar Community Elkhart Lake, a 67-unit independent living and assisted living center located in Elkhart Lake, Wisconsin (the "Community"). CC is a Wisconsin-based, not-for-profit organization.
CHICAGO, Jan. 17, 2024 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce its role as exclusive financial advisor to Benevolent Corporation Cedar Community (dba, Cedar Community, hereafter "CC") on the sale of Cedar Community Elkhart Lake, a 67-unit independent living and assisted living center located in Elkhart Lake, Wisconsin (the "Community"). CC is a Wisconsin-based, not-for-profit organization.
The entry fee community was constructed by CC and opened in 2008. The 13.3-acre property, located blocks from Elkhart Lake, includes a neighborhood of independent townhomes, a main assisted living apartment complex and a resident clubhouse.
Matter Development (Matter) purchased the property on January 5, 2024. Matter's operating affiliate, Koru Health, will operate the community. Together Matter and Koru operate 12 senior living communities in Wisconsin and Minnesota. The acquisition reflects the company's commitment to expanding its footprint in Sheboygan County and the surrounding area.
Aaron Matter, CEO of Matter Development explained, "While this acquisition is our first venture into Sheboygan County, it's just the beginning. We're proud to carry on the legacy Cedar Community set for this campus, and we are committed to making a lasting impact on the residents and the community through exceptional care, vibrant communities, and a future filled with exciting possibilities."
Ziegler conducted a focused marketing process for the Community and negotiated pricing that represented an 8% capitalization rate based on historical cash flow (as marketed). The Ziegler investment banking team members involved in executing this transaction are Nick Glaisner, Jake Sexton and Melanie Schafer.
Ziegler Senior Housing & Care Finance is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of healthcare services, information technology, hospitals and senior living, Ziegler is one of the most active M&A firms offering innovative sell-side, buy-side, recapitalization/restructuring, equity private placement and strategic partnering services.
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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