CHICAGO, July 30,
2024 /PRNewswire-PRWeb/ -- Ziegler, a specialty
investment bank, is pleased to announce its role in raising a
$25,000,000 bridge financing for
RiverSpring Living's River's Edge project, New York City's first Continuing Care
Retirement Community (CCRC).
Daniel
Reingold, President & Chief Executive Officer of River's
Edge, stated, "Securing this financing is crucial for advancing our
site preparation efforts....We appreciate the exceptional efforts
of Ziegler and Stride Bank in successfully finalizing this
transaction."
RiverSpring Living serves over 18,000 older adults of all faiths
through compassionate care and vibrant community engagement. Guided
by Jewish values and a not-for-profit mission, RiverSpring Living
advocates for and celebrates a vision of empowered aging with a
full range of care solutions, including managed long-term care,
assisted living programs, senior housing, specialized services such
as elder abuse prevention, memory care, and the nationally
recognized Hebrew Home at Riverdale. The Hebrew Home at Riverdale, a long-term care community founded
more than 105 years ago, is in the Riverdale section of the Bronx County, New York City, on a 32-acre
campus overlooking the Hudson River.
Daniel Reingold, President &
Chief Executive Officer of River's Edge, stated, "Securing this
financing is crucial for advancing our site preparation efforts.
River's Edge is poised to become a premier CCRC, combining upscale
luxury with a cosmopolitan lifestyle on a secure, walkable campus.
We appreciate the exceptional efforts of Ziegler and Stride Bank in
successfully finalizing this transaction."
RiverSpring Living enlisted Chicago-based Integrated Development II as its
development consultant, and Ziegler as its exclusive financial
advisor to expand its not-for-profit mission through the River's
Edge project. The project will be located on land leased from the
Hebrew Home at Riverdale and is
expected to be an approximately 441,000-square-foot, 11-story
building with 260 independent living apartment units. The project
will include luxurious one- and two-bedroom floor plans showcasing
breathtaking views of the Hudson River, the Palisades, the George
Washington Bridge, and the Manhattan skyline.
"Ziegler has steadfastly served as a trusted ally to Stride Bank,
and their facilitation of River's Edge only strengthens this
invaluable partnership. This transaction stands as a remarkable
success for all parties involved," remarked Debbie Blacklock, SVP of Healthcare Banking at
Stride Bank.
Christopher Utz, Managing
Director of Ziegler's Senior Housing & Care Finance Practice,
placed the transaction with Stride Bank N.A.
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.
Media Contact
Chri, Ziegler, 3125961617, cmccarty@ziegler.com,
www.ziegler.com
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SOURCE Ziegler