Ziegler Closes $44M Financing for Miralea; an Independent Senior Living Development
24 August 2011 - 5:57PM
Marketwired
Ziegler, a specialty investment banking firm, is pleased to
announce the successful closing of the Miralea in Louisville,
Kentucky transaction. Miralea is a new independent senior living
development located on the current grounds of Masonic Homes of
Kentucky's Louisville campus. Ziegler structured a $43.785 million
bond transaction to construct the new 102 independent living units
in August, with the first residential move-ins planned for December
of 2012.
Miralea is an affiliate of Masonic Homes of Kentucky (MHKY) and
is being developed on the existing Louisville campus of MHKY.
Masonic Homes of Kentucky has three Kentucky campuses and
approximately 600 units in its continuum of care. The Louisville
campus of Masonic Homes of Kentucky has history dating back to 1867
and currently includes 146 independent living apartments, 104
assisted living units, and 136 skilled nursing units on its 81
acres. The Series 2011 Bonds will finance the development of
Miralea, which will include 90 new independent living apartments
and 12 duplex cottages, as well as common dining areas, a
wellness/fitness center, a pool, a creative arts center, and other
common living areas.
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. Tom Meyers, Managing Director in Ziegler's
Senior Living practice, commented, "This is an exceptional project
for an exceptional sponsor. Mirelea not only was 100% pre-sold by
the financing's finalization but also a wait list with more than 20
units had been established. This is a very rare accomplishment and
it is a great sign of the project's future success."
For further information on this issuer, please see the
Electronic Municipal Market Access system's Document Archive.
For more information about Ziegler and 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.
CONTACT: Christine McCarty 312 596 1617 Email Contact
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