#United States #Chicago #Senior Living #Ziegler #Maple Knoll

Ziegler Completes Major Financing for Senior Living Affiliates

In a significant development within the senior living finance sector, Ziegler has announced the successful closing of two considerable financings totaling $66.5 million for its affiliates, Maple Knoll Communities in Ohio and Westminster Village North in Indiana. This move reinforces Ziegler's commitment to financing senior living facilities that cater to the growing demographic of older adults needing quality care.

Details of the Financing

The financing involves $23,465,000 in Series 2026 Refunding Revenue Bonds for Maple Knoll Communities and $43,000,000 for Westminster Village North. These funds will not only aid in refinancing existing debts but are also aimed at providing enhanced capital for further community developments.

Maple Knoll Communities

Maple Knoll Communities, a not-for-profit organization with over 175 years of service, operates two Continuing Care Retirement Communities (CCRCs). These facilities are located in Springdale and Oxford, Ohio, accommodating a combined total of 395 independent living units, alongside assisted living, memory care, and skilled nursing options. By utilizing the proceeds from the Series 2026 Bonds, Maple Knoll will effectively refund three outstanding loans that were nearing the end of their commitment periods, thus ensuring effective financial management and stability for the community.

Westminster Village North

On the other hand, Westminster Village North, which was established in 1972 and spans 57 acres on the northeast side of Indianapolis, provides a continuum of care to its residents. Its latest financing move not only tackles existing bank loans but also allocates around $2.1 million for essential capital expenditures. This enables Westminster Village North to operate with improved financial and operational capacities over the next decade.

Custom Financing Solutions

Tom Meyers, Senior Managing Director at Ziegler, emphasized the importance of customized financing strategies designed for each organization's unique needs. By collaborating closely, Ziegler was able to secure competitive bank terms and tailor interest rate hedges that align with both Maple Knoll and Westminster Village North's future objectives. This successful simultaneous financing execution also reflects positively on the credit strength of these groups, further bolstered by their affiliation with BHI Senior Living, which operates more than 3,171 units across multiple states.

Future Outlook

BHI Senior Living has been serving the needs of older adults for over a century, and with the strengthened financial positions of both Maple Knoll and Westminster Village North, the organization is well-positioned for future growth. The partnership with Ziegler has provided crucial support in navigating the complexities of the financial landscape, ensuring that both communities can focus on their commitment to providing exceptional care to residents.

As BHI continues to enhance and adapt its facilities based on the changing dynamics of senior living, the successful closure of these financing agreements marks an important milestone. Ziegler's contributions enable these communities to sustain a high standard of living for older adults while pursuing innovative service offerings that cater to aging populations.

For more information about Ziegler and their role in the senior living financing space, visit their official website.

This collaborative effort not only signals a robust future for the communities involved but also highlights the crucial role of strategic financing in shaping the landscape of senior care.