Ziegler, a specialty investment bank, in partnership with M&T Realty Capital Corporation (M&T RCC), is pleased to announce its role as financial advisor in a $105,600,000 Freddie Mac refinancing on behalf of The Ridge Senior Living to underwrite the existing debt on The Ridge Pinehurst, a luxury independent living, assisted living & memory care community in Lakewood, Colorado. The award-winning 371-unit community began opening in phases in September 2020.
CHICAGO, June 2, 2023 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, in partnership with M&T Realty Capital Corporation (M&T RCC), is pleased to announce its role as financial advisor in a $105,600,000 Freddie Mac refinancing on behalf of The Ridge Senior Living to underwrite the existing debt on The Ridge Pinehurst, a luxury independent living, assisted living & memory care community in Lakewood, Colorado. The award-winning 371-unit community began opening in phases in September 2020.
The original 10-year, fixed-rate loan was structured with 5 years of interest-only payments, followed by 30-year amortization. The refinance provided The Ridge with a long-term fixed-rate loan to replace the original floating rate construction loan.
"We're excited to have been able to secure the debt needed for The Ridge to be able to refinance their community long-term with terms that allowed them to achieve their goal of refinancing their construction loan with fixed-rate financing during a very challenging lending period in the market," stated Eric Johnson, a managing director in Ziegler's Senior Housing & Care Finance Practice, who arranged and negotiated the transaction.
"Achieving this financing with Freddie Mac in a difficult lending environment is a testament to the industry-leading design and unrivaled hospitality provided by The Ridge Pinehurst," said Mandy Hampton, CEO of The Ridge Senior Living. "We're excited about what this means for the next phase of our company development and what we can provide for Denver-area seniors."
Managing Director Matt Henning, Seniors Housing Program Manager Matthew Pipitone and Managing Director Nick Gent led the transaction for M&T RCC. "The Ridge Pinehurst is a fantastic community. We are proud to have provided a financing solution that achieved the goals of the Borrower and helps set them up for future success," said Matthew Henning.
As a full-service mortgage banking firm, M&T RCC specializes in financing multifamily and commercial properties throughout the United States. M&T RCC originates and services loans for all types of income producing properties, including conventional and affordable multifamily, healthcare facilities, office, retail, industrial, and student, senior, and military housing.
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.
About M&T Realty Capital Corporation:
M&T Realty Capital Corporation® (http://www.mtrcc.com) is a wholly-owned subsidiary of M&T Bank—one of the 11 largest US-headquartered commercial bank holding companies. As a full-service mortgage banking company, we specialize in providing competitive financing nationwide for commercial real estate. We are a fully accredited Fannie Mae DUS® lender, a Freddie Mac Optigo® lender, an approved FHA/HUD MAP and LEAN lender, and also offer life insurance company and CMBS financing through correspondent relationships. In addition to its M&T Bank offices, M&T RCC is also closely aligned with M&T commercial banking offices in Florida, Oregon, and Washington. Further information is available at http://www.mtrcc.com.
Equal Housing Lender. ©2023 M&T Realty Capital Corporation. NMLS #1024366.
M&T Realty Capital Corporation is a wholly-owned subsidiary of M&T Bank, Member FDIC.
"DUS®" is a registered trademark of Fannie Mae. "Optigo®" is a registered trademark of Freddie Mac.
All loans and all terms referenced herein are subject to receipt of a complete application, credit approval, and other conditions.
About The Ridge Senior Living. For nearly ten years, the award-winning communities of The Ridge Senior Living have served Salt Lake City- and Denver-area older adults and their families with quality care from its independent living, assisted living and memory support experiences. The Ridge communities are privately owned and purposely designed to reflect the best of its local surroundings, and to become a seamless expression of the land they live on. For more information, visit http://www.theridgeseniorliving.com.
Media Contact
Christine McCarty, Ziegler, 3125961617, [email protected]
SOURCE Ziegler
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