Ziegler Closes $70.210 Million Beatitudes Campus Project Financing
Chicago, Illinois (PRWEB) January 16, 2018 -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $70,210,000 Series 2017 Bonds for The Beatitudes Campus Project.
The Beatitudes Campus is a continuing care retirement community on approximately 27 acres in north central Phoenix, Arizona. The community comprises a total of 651 residences/beds, including 188 entrance fee independent living apartments, 11 entrance fee independent living patio homes, 259 rental independent living apartments, 92 traditional assisted living units, 29 early stage memory care assisted living beds and 72 skilled nursing beds.
Beatitudes will use the proceeds of the Bonds, together with certain other moneys, to: (i) refund the $64,615,000 outstanding Series 2006 Bonds; (ii) finance approximately $6.3 million of pre-development costs relating to their ongoing master planning efforts; (iii) fund a debt service reserve fund; and (iv) pay certain costs of issuance of the Bonds.
“We are incredibly grateful to Mary Muñoz and the Ziegler team for their creativity and assistance in navigating the complexities of the bond process. This refinancing puts us on stronger footing as we finalize our plans to expand our mission of service in the Phoenix community,” commented Michelle Just, President and CEO.
“It has been exciting to be part of helping the Beatitudes Campus take its community offerings to the next level,” added Mary Muñoz, Managing Director in Ziegler’s senior living practice. “The Beatitudes has an outstanding reputation in the greater Phoenix area, and the continued redevelopment of the community will allow this organization to serve more seniors with high quality services, including a nationally-recognized memory care program.”
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 further information on the structure and use of this issue, please see the Official Statement located on the Electronic Municipal Market Access system's Document Archive.
For more information about Ziegler, please visit us at http://www.Ziegler.com.
About Ziegler:
Ziegler is a privately held investment bank, capital markets and proprietary investments firm. Specializing in the healthcare, senior living and education sectors, as well as general municipal and structured finance, enables Ziegler to generate a positive impact on the clients and communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States, Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading and research. 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.
Christine McCarty, Ziegler, http://www.ziegler.com, +1 (312) 596-1617, [email protected]
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