Ziegler Facilitates $32.45 Million Financing for Lourdes Senior Community Expansion
On October 1, 2026, Ziegler, a renowned investment bank specializing in healthcare and senior living financing, announced the successful closure of a significant funding deal. This financing, totaling $32,453,000, was arranged to aid the Lourdes Senior Community, a not-for-profit retirement community located in Waterford, Michigan. The deal comprises two components: $14,453,000 derived from Series 2026A Refunding Revenue Bonds and $18,000,000 from Series 2026B Bank Draw Down Bonds. Together, these funds are intended to refinance existing financial obligations while enabling the construction of a new independent living facility for seniors.
Established in 1965, Lourdes Senior Community has been a pivotal resource for older adults and their families in the region. Occupying a picturesque 38-acre site along the lake in Oakland County, this community provides a comprehensive array of care options. The facilities include 55 independent living units at Fox Manor, independent living villas, assisted living quarters, memory care units, and skilled nursing beds, ultimately offering 221 units tailored to the needs of its residents. The community's integration also features a 15-room inpatient hospice center managed by Angela Hospice, emphasizing its commitment to comprehensive eldercare services.
The organization is operated by Dominican Health Care Corporation and enjoys sponsorship from the Dominican Sisters of Peace. Governed by a board of directors, Lourdes maintains its nonprofit status while offering various care levels that span independent living, assisted living, memory care, rehabilitation, and long-term nursing care. The recent financing will not only address previous outstanding bonds issued in 2019 but will also fund the development of a new 60-unit independent living building, further expanding the community's dedicated services.
The funds for this financing were structured to be tax-exempt, arranged through a direct placement with WesBanco and ensuring a constructed swap to enhance financial stability. The arrangement includes a decade-long bank credit commitment extending until September 1, 2026, with an ultimate maturity date pushed to September 1, 2046.
Tom Meyers, a Senior Managing Director at Ziegler's Senior Living Finance Practice, expressed confidence in Lourdes’ management, stating, 'Despite the challenges posed by market fluctuations and uncertain interest rates, Lourdes managed to secure favorable financing terms reflecting the strength of its organization and mission.' He acknowledged Ziegler's role as both the placement agent and swap advisor, emphasizing their commitment to delivering competitive results tailored to the specific needs of the Lourdes community.
Rich Acho, the President and CEO of Lourdes Senior Community, expressed excitement about reaching this milestone. He stated, 'The Baby Boomer generation is generating a growing demand for quality senior living options. This expansion allows us to serve more older adults and continue our mission.' He also expressed gratitude towards Ziegler for structuring favorable financial conditions in the current interest rate landscape.
Ziegler holds a prominent position in the senior living financial sector, providing innovative and customized solutions to nonprofit senior living facilities. Their services range from investment banking, and financial risk management to strategic planning and senior living education. Their expertise positions them as the leading underwriter of funding solutions for nonprofits in the senior living industry.
As the need for reliable and quality senior living continues to expand, partnerships like that of Ziegler and Lourdes are key to ensuring that sufficient resources are available to meet changing demands. This significant step towards expansion reaffirms Lourdes' commitment to enhancing the quality of life for seniors in their care for many years to come. For more details about Ziegler and their services, please visit their official website.
Established in 1965, Lourdes Senior Community has been a pivotal resource for older adults and their families in the region. Occupying a picturesque 38-acre site along the lake in Oakland County, this community provides a comprehensive array of care options. The facilities include 55 independent living units at Fox Manor, independent living villas, assisted living quarters, memory care units, and skilled nursing beds, ultimately offering 221 units tailored to the needs of its residents. The community's integration also features a 15-room inpatient hospice center managed by Angela Hospice, emphasizing its commitment to comprehensive eldercare services.
The organization is operated by Dominican Health Care Corporation and enjoys sponsorship from the Dominican Sisters of Peace. Governed by a board of directors, Lourdes maintains its nonprofit status while offering various care levels that span independent living, assisted living, memory care, rehabilitation, and long-term nursing care. The recent financing will not only address previous outstanding bonds issued in 2019 but will also fund the development of a new 60-unit independent living building, further expanding the community's dedicated services.
The funds for this financing were structured to be tax-exempt, arranged through a direct placement with WesBanco and ensuring a constructed swap to enhance financial stability. The arrangement includes a decade-long bank credit commitment extending until September 1, 2026, with an ultimate maturity date pushed to September 1, 2046.
Tom Meyers, a Senior Managing Director at Ziegler's Senior Living Finance Practice, expressed confidence in Lourdes’ management, stating, 'Despite the challenges posed by market fluctuations and uncertain interest rates, Lourdes managed to secure favorable financing terms reflecting the strength of its organization and mission.' He acknowledged Ziegler's role as both the placement agent and swap advisor, emphasizing their commitment to delivering competitive results tailored to the specific needs of the Lourdes community.
Rich Acho, the President and CEO of Lourdes Senior Community, expressed excitement about reaching this milestone. He stated, 'The Baby Boomer generation is generating a growing demand for quality senior living options. This expansion allows us to serve more older adults and continue our mission.' He also expressed gratitude towards Ziegler for structuring favorable financial conditions in the current interest rate landscape.
Ziegler holds a prominent position in the senior living financial sector, providing innovative and customized solutions to nonprofit senior living facilities. Their services range from investment banking, and financial risk management to strategic planning and senior living education. Their expertise positions them as the leading underwriter of funding solutions for nonprofits in the senior living industry.
As the need for reliable and quality senior living continues to expand, partnerships like that of Ziegler and Lourdes are key to ensuring that sufficient resources are available to meet changing demands. This significant step towards expansion reaffirms Lourdes' commitment to enhancing the quality of life for seniors in their care for many years to come. For more details about Ziegler and their services, please visit their official website.
Topics Financial Services & Investing）
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