#United States #Tempe #Tempe AZ #Ziegler #Friendship Village

Ziegler's Major Financing for Friendship Village of Tempe

On October 29, 2025, Ziegler, a notable specialty investment bank, announced a significant financial milestone with the closing of $107,525,000 in bonds for the Friendship Village of Tempe in Arizona. This financing, facilitated through the Industrial Development Authority of Tempe, is aimed at enhancing the retirement community's facilities and services.

The Scope of the Project

Friendship Village of Tempe, operated by the nonprofit Tempe Life Care Village, Inc., is a comprehensive senior living community featuring a variety of accommodations. Currently, the facility offers:

• - 536 independent living units
• - A 128-bed skilled nursing center
• - A 67-unit assisted living building
• - 24 memory care beds
• - A 14-bed hospice unit

The newly secured bonds will specifically fund Phase Three of the community’s master plan. A standout feature of this phase is the construction of the Ironwood building, a five-story structure containing 69 entrance fee apartments designed to meet the growing demand for more spacious accommodations. This new building will replace an older, three-story structure that has become outdated according to current market preferences.

Amenities and Facilities

The upcoming Ironwood building will not only offer larger apartments but also include a variety of amenities aimed at enriching residents’ lives. Planned features include:

• - Underbuilding parking for convenient access
• - A first-floor salon
• - An assistance in living (AIL) clinic
• - A group exercise room for health and fitness activities
• - Multi-use club rooms for social gatherings
• - A new restaurant and sports bar located on the fifth floor, providing a vibrant dining atmosphere

This expansion is anticipated to significantly elevate the quality of living for current and future residents at Friendship Village.

Financial Details and Benefits

This marks Ziegler's tenth major transaction with Friendship Village of Tempe, totaling over $514 million since 1980. Importantly, the 2025A Bonds are exempt from federal and Arizona state income taxes, making this a financially sound decision for all parties involved. The financial structure also includes a level debt service agreement tied to existing bonds from 2019 and 2021, promoting financial stability for the community.

The 2025B Bonds are categorized as Tax-Exempt Mandatory Paydown Securities (TEMPSSM) and are set to be repaid as the community reaches approximately 75% occupancy of the new Ironwood building.

Stakeholder Perspectives

Cole Marvin, Executive Director of Friendship Village of Tempe, expressed gratitude towards the Ziegler team. He remarked on their professionalism, responsiveness, and deep knowledge, which helped ensure that the financing process was seamless and focused on enhancing the community's success. Marvin emphasized that this new phase will be a transformative addition for the residents, vastly improving their living experience.

Daren Bell, Managing Director in Ziegler's Senior Living Finance Practice, echoed this sentiment. He articulated his pride in collaborating with Friendship Village of Tempe and noted that this phase represents a critical investment in providing high-quality, person-centered senior living in the heart of Tempe. Ziegler's support reflects its commitment to fostering growth and meeting the evolving needs of the senior living sector.

Ziegler’s Role in Senior Living Finance

Ziegler stands out as a leading underwriter for financing within the not-for-profit senior living sector, offering a range of tailored services that encompass investment banking, financial risk management, and capital planning. The firm’s expertise ensures that clients receive comprehensive solutions to their financial needs, fostering the growth of sustainable and innovative senior living communities across the country.

For more insights and updates about Ziegler, visit their official website at www.ziegler.com.

This successful closing is a testament to Ziegler’s enduring commitment to enhancing senior living environments and supporting their clients in achieving long-term success in a rapidly changing landscape.