Ziegler Closes $12.7 Million Mease Manor Financing
Chicago, IL (PRWEB) August 14, 2013 -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $12,700,000 tax-exempt, non-bank qualified loan for Mease Manor. Mease Manor is a Florida not-for-profit organization that owns and operates a continuing care retirement community in Dunedin, Florida. The community opened in 1964 and currently operates 204 independent living units, 107 assisted living units, and 100 skilled nursing beds on a 12-acre campus.
Jack Norton, CEO of Mease Manor, commented, “Next year we will celebrate Mease Manor’s 50th anniversary of success and service to our residents. Several years ago we developed a campus repositioning plan that, until now, we funded internally. This new financing will allow us to work continually over the next couple of years to complete the repositioning plan with the addition of some new programs for our residents. We are extremely grateful to the Ziegler organization for their guidance and support.”
Ziegler served as placement agent and completed a solicitation of financial institutions to obtain financing to refund the outstanding Series 1995 Bonds and to fund the construction of a new administration building and additional assisted living/memory support units.
Rich Scanlon, Managing Director in Ziegler’s Senior Living practice, stated, “Mease Manor has been an established provider of senior living services in the Dunedin, FL market for nearly 50 years. The proceeds from this financing will allow them to continue with the renovation of their existing assets and construct new assisted living/memory support units to meet the evolving needs of their primary market area ensuring that they remain the leader in their market.”
Ziegler is one of the nation’s leading underwriters of financing 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, investment management, 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.
Christine McCarty, Ziegler, http://www.ziegler.com, 312 596 1617, [email protected]
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