Ziegler is pleased to announce the successful pricing of Twin Lakes Community's $35,310,000 Series 2025A and 2025B Bonds (together the "Series 2025 Bonds").
CHICAGO, May 8, 2025 /PRNewswire-PRWeb/ -- Ziegler is pleased to announce the successful pricing of Twin Lakes Community's $35,310,000 Series 2025A and 2025B Bonds (together the "Series 2025 Bonds").
Twin Lakes Community (Twin Lakes) operates a nonprofit fee-for-service life plan community located on approximately 215 acres bordering the city of Burlington, North Carolina. Burlington is centrally located in North Carolina between the Triangle area (Raleigh/Durham/Chapel Hill) to the east and the Triad area (Greensboro/High Point/Winston-Salem) to the west. Since opening in 1983, Twin Lakes has grown to include 482 independent living units, 36 assisted living units, 32 memory care units, and 104 health care units. This unit complement ranks Twin Lakes as the 29th largest nonprofit single-campus senior living organization in the nation according to the 2024 LeadingAge-Ziegler 200.
Having recently completed construction and fill-up of Stockton Phase 1 – a 48-unit independent living apartment building – Twin Lakes is now preparing to launch Phase 2 of the Stockton project. This next phase will include an additional 36 independent living apartments, ranging from 1,046 to 1,939 square feet (1,583 weighted average). At the time of pricing, 100% of the new units were pre-sold with a 10% entrance fee deposit.
The Series 2025 Bonds consist of two primary tranches of BBB rated (Fitch) public fixed-rate bonds, issued through the North Carolina Medical Care Commission. Proceeds of the Series 2025 Bonds along with other available funds, will be used to, (1) finance the costs of the Project, (2) fund a portion of interest during construction and fill-up, and (3) cover certain expenses related to the issuance of the Series 2025 Bonds.
Tad Melton, Managing Director, Ziegler Senior Living Finance stated, "We are proud to have partnered with Twin Lakes over the years on multiple financings that supported a comprehensive campus reinvestment process – beginning with a new healthcare center and continuing through renovated common areas and two new phases of apartments. Each phase – including the Stockton Phase 2 apartments financed through the Series 2025 bonds – has been a strong success. Twin Lakes is a well-managed, BBB-rated life plan community that serves its residents with exceptional standards. We're honored to support such meaningful strategic initiatives."
Ziegler is the nation's leading underwriter of financings for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, seed capital, FHA/HUD, capital and strategic planning, as well as senior living research, education, and communication.
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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