Ziegler Closes $143 Million Financing for The Terraces at Bonita Springs
November 17 2011 - 12:47PM
Marketwired
Ziegler, a specialty investment bank, is pleased to announce the
successful closing of a $143,120,000 non-rated, fixed-rate issue
for The Terraces at Bonita Springs (the Terraces). The Terraces is
a start-up continuing care retirement community to be constructed
in Bonita Springs, Florida, just north of Naples in southern Lee
County. The Terraces is sponsored by SantaFe Senior Living, an
affiliate of SantaFe HealthCare located in Gainesville, Florida,
each of which are not-for-profit corporations. Ziegler served as
sole manager on this bond issue.
The Terraces will be located on approximately 20 acres and is
expected to consist of 144 entrance fee-based independent living
apartment-style residences, 49 residential-style assisted living
apartments, 18 memory support assisted living suites, and a nursing
facility including 40 private nursing beds. Greystone Communities
of Las Colinas, Texas serves as the developer for the Terraces.
SFSL will manage the Community. SFSL is an experienced senior
living provider operating three other Florida retirement
communities (Gainesville, Clearwater and Miami) and ranks #48 on
the 2011 LeadingAge Ziegler 100, a list of the largest
not-for-profit senior living providers in the nation.
Ziegler is one of the nation's leading underwriters of financing
for non-profit senior living providers and offers 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. Rich Scanlon, Managing Director in Ziegler's
Senior Living practice, states, "Start-up senior living communities
are among the most difficult project financings to complete in
today's challenging capital markets environment, particularly in
Florida. The completion of The Terraces financing can be attributed
to a committed sponsor, a well-conceived development plan in a
strong market area and an experienced, dedicated working group, the
combination of which are the elements observed in successful
retirement communities throughout the country."
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
www.Ziegler.com.
About Ziegler:
The Ziegler Companies, Inc. (PINKSHEETS: ZGCO) together with its
affiliates (Ziegler) is a specialty investment bank with unique
expertise in complex credit structures and advisory services.
Nationally, Ziegler is ranked as one of the leading investment
banking firms in its specialty sectors of healthcare, senior
living, religion and education finance, as well as corporate
finance and FHA/HUD. Headquartered in Chicago, IL with regional and
branch offices throughout the U.S., Ziegler creates tailored
financial solutions including bond financing, advisory, private
placement, seed capital, M&A, risk and asset management.
Ziegler serves institutional and individual investors through its
wealth management and capital markets distribution channels.
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.
This communication does not constitute an offer to buy these
securities. The offering is made only by the Official Statement and
through an appropriately registered representative. The Series 2011
Bonds may not be appropriate for all investors. Market value and/or
accrued interest will fluctuate during the period held, and, if
sold prior to maturity, the yield received may be more or less than
the yield calculated at the time of purchase. Discounted yields
herein are gross yields to maturity. Discounted bonds may be
subject to capital gains tax, rates of which will vary, so
investors should consult their own tax advisor with regard to their
personal tax situation. Interest on municipal bonds may be exempt
from federal income tax but may be subject to tax for residents of
certain states. For bonds designated AMT, taxes may exist for
certain investors. Ziegler will sell these bonds on a principal
basis.
The corporation or its officers, directors, stockholders, or
members of their families may at times have a position in the
securities mentioned herein and may make purchases or sales of
these securities. Not all call or put information is identified in
the description above. Please be sure to discuss any special
features with your Financial Advisor before deciding whether to
invest in these securities.
Christine McCarty 312 596 1617 Email Contact
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