Ziegler Successfully Closes Financing for Josephine Caring Community Worth Over $77 Million
In a notable achievement for the investment banking sector, Ziegler, a prominent specialty investment bank, has successfully closed a significant bond financing deal amounting to $77,115,000 for Josephine Caring Community. This transaction, executed through the Washington State Housing Finance Commission, represents a crucial step in the facilitation of enhanced senior living services in Washington State.
Josephine Caring Community, situated in Stanwood, Washington, is a 501(c)(3) nonprofit organization that has been providing vital care services since its inception in 1908. The organization operates a skilled nursing facility with a capacity of 131 beds, a licensed assisted living home for 65 residents, and an intergenerational childcare program catering to up to 111 children. As an integral component of the community, Josephine aims to expand its offerings with the introduction of the Cascade Village Project, which will feature new independent living apartments and villa homes designed for seniors.
The Cascade Village Project will be strategically located in Marysville, approximately 12 miles from the existing Stanwood Campus. This project promises to enhance the living standards of seniors by providing 63 one-, two-, and three-bedroom apartments, along with two-bedroom villa homes. Residents will benefit from shared amenity spaces fashioned within a serene park-like environment, complete with interconnected pedestrian pathways and courtyards—emphasizing comfort, accessibility, and community engagement.
This financing marks the second collaboration between Ziegler and Josephine Caring Community, reinforcing the organization's strategic objectives. The bond structure comprises short-term fixed-rate Series B and C Bonds, allowing for repayment at around 75% occupancy, alongside long-term fixed-rate Series A Bonds that amortize over 35 years. This structure facilitates manageable debt service payments, extending through to 2060.
Proceeds from the bonds will be allocated for multiple purposes including funding the construction of the Cascade Village Project, refinancing existing obligations, establishing a debt service reserve fund, covering capitalized interest for a period of 27 months, and addressing various issuance costs. This multifaceted funding approach illustrates Ziegler's commitment to supporting its clients through tailored financial strategies that address diverse needs in the senior living sector.
As the country's leading underwriter for not-for-profit senior living providers, Ziegler focuses on crafting innovative financial solutions that cater to the specific requirements of its clientele. This includes offerings spanning investment banking, financial risk management, merger and acquisition services, strategic planning, as well as essential research and education focused on senior living.
For additional details about Ziegler and its extensive services, interested parties can visit their official site at www.ziegler.com, where they will find more information on their initiatives and capabilities. As Ziegler continues to play a pivotal role in the growth of senior care facilities, the successful closing of this financing further underscores their expertise and commitment to enhancing the quality of care available to elderly individuals in communities across the nation.
Josephine Caring Community, situated in Stanwood, Washington, is a 501(c)(3) nonprofit organization that has been providing vital care services since its inception in 1908. The organization operates a skilled nursing facility with a capacity of 131 beds, a licensed assisted living home for 65 residents, and an intergenerational childcare program catering to up to 111 children. As an integral component of the community, Josephine aims to expand its offerings with the introduction of the Cascade Village Project, which will feature new independent living apartments and villa homes designed for seniors.
The Cascade Village Project will be strategically located in Marysville, approximately 12 miles from the existing Stanwood Campus. This project promises to enhance the living standards of seniors by providing 63 one-, two-, and three-bedroom apartments, along with two-bedroom villa homes. Residents will benefit from shared amenity spaces fashioned within a serene park-like environment, complete with interconnected pedestrian pathways and courtyards—emphasizing comfort, accessibility, and community engagement.
This financing marks the second collaboration between Ziegler and Josephine Caring Community, reinforcing the organization's strategic objectives. The bond structure comprises short-term fixed-rate Series B and C Bonds, allowing for repayment at around 75% occupancy, alongside long-term fixed-rate Series A Bonds that amortize over 35 years. This structure facilitates manageable debt service payments, extending through to 2060.
Proceeds from the bonds will be allocated for multiple purposes including funding the construction of the Cascade Village Project, refinancing existing obligations, establishing a debt service reserve fund, covering capitalized interest for a period of 27 months, and addressing various issuance costs. This multifaceted funding approach illustrates Ziegler's commitment to supporting its clients through tailored financial strategies that address diverse needs in the senior living sector.
As the country's leading underwriter for not-for-profit senior living providers, Ziegler focuses on crafting innovative financial solutions that cater to the specific requirements of its clientele. This includes offerings spanning investment banking, financial risk management, merger and acquisition services, strategic planning, as well as essential research and education focused on senior living.
For additional details about Ziegler and its extensive services, interested parties can visit their official site at www.ziegler.com, where they will find more information on their initiatives and capabilities. As Ziegler continues to play a pivotal role in the growth of senior care facilities, the successful closing of this financing further underscores their expertise and commitment to enhancing the quality of care available to elderly individuals in communities across the nation.
Topics Financial Services & Investing）
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