#United States #Montana #Ziegler #St. John's United #Aeries Project

Ziegler Secures Major Financing for St. John's United

In a remarkable achievement in the field of senior living healthcare financing, Ziegler, a specialized investment banking firm, recently concluded a significant funding deal for St. John's United. The financing, which totals $191,460,000, will be allocated to the development of the Aeries Project, a pivotal expansion of St. John's facilities located in Montana.

The financing was conducted through the issuance of Series 2026ABC Bonds by the Montana Facility Finance Authority. This monumental project encompasses not only the construction of new facilities but also aims to enhance and sustain the broad array of services that St. John's United offers to its residents.

Understanding St. John's United

St. John's United, formally recognized as St. John's Lutheran Ministries, Inc., is classified as a nonprofit corporation under Section 501(c)(3) of the Internal Revenue Code. This organization operates a multi-campus senior living system, primarily serving residents in and around Billings and Laurel, Montana. Currently, St. John's United operates five senior living communities, which together provide a full spectrum of care, including:

• - 201 independent living units
• - 140 assisted living units
• - 72 memory care units
• - 88 skilled nursing beds

The expansion plan includes the construction of a new 12-story tower named Aeries, which will introduce approximately 95 independent living units, alongside several amenities designed to foster a vibrant community atmosphere. Additionally, new moderate income independent living apartments known as Chapel Court Living will also be developed on the main St. John's campus, and further improvements will be made to the WyndStone campus with four new independent living four-plex buildings.

Financial Details of the Aeries Project

The Series 2026ABC Bonds are structured with a combination of tax-exempt and taxable bonds, including:

• - Short-term fixed-rate Series B bonds
• - Taxable short-term fixed-rate Series C bonds
• - Long-term fixed-rate Series A bonds

These financial instruments will support not only the construction of new facilities but also will address existing debts as part of the broader financial strategy of St. John's United. The short-term bonds are specifically designed to be repaid following the expected occupancy rates of the Aeries Tower Project and WyndStone Project.

Quotes from Leadership

Daren Bell, the Managing Director at Ziegler and an expert in Senior Living Finance, expressed his pride in the partnership, emphasizing the comprehensive strategic considerations involved in this transaction. He stated, "We are proud to have partnered with St. John's on this important financing, one that involved several complex strategic and structural considerations. A key element of the transaction was the addition of Missions United to the St. John's Obligated Group."

On the other hand, David Trost, the Chief Executive Officer of St. John's United, reflected on the significance of this financing for the organization. He remarked, "This financing represents an important milestone in St. John's United's ongoing commitment to meeting the evolving needs of older adults and families across our region."

Ziegler's Role and Future Outlook

Ziegler, a leader in providing financing solutions to nonprofit senior living providers, stands out for its tailored approach to meet the distinct needs of its clients in the healthcare and senior living sectors. Since its inception, Ziegler has successfully completed several financing transactions with St. John's United, highlighting the firm's commitment and adaptability to the evolving landscape of senior living finance.

As part of a strategic vision for growth, the Aeries Project will not only expand the facilities available to residents but also strengthen St. John's commitment to providing dignified living options for older adults. With the unfolding of this project, Ziegler continues to exemplify excellence in financial services, contributing to vital community resources in the senior living sector.

For more insights into their offerings, you can visit Ziegler's official website at www.ziegler.com.