#United States #Chicago #Senior Living #Ziegler #Jennings Center

Ziegler Facilitates $14.6 Million Financing for Jennings Center for Older Adults

On January 8, 2026, Ziegler, a leading specialty investment bank, proudly announced the successful conclusion of a substantial financing deal involving Jennings Center for Older Adults. This financing, amounting to $14,565,000, was accomplished through the Series 2025 Bank Direct Placement Refunding Revenue Bonds, designed to bolster Jennings' mission of providing exceptional care for older adults across Northeast Ohio.

Located in several communities including Garfield Heights, Maple Heights, Shaker Heights, Chardon, and Brecksville, Jennings Center stands out as a multilateral non-profit organization deeply rooted in Catholic values. Since its inception by the Sisters of the Holy Spirit in 1942, Jennings has consistently prioritized the well-being of aging adults, delivering services that cater to diverse income levels. Each year, Jennings caters to over 1,200 individuals by offering a variety of essential health care options, residential services, and community-based support programs.

The funds generated from the Series 2025 Bonds will be strategically utilized to refinance Jennings’ existing Series 2016 bank loan while also facilitating the early payment of a promissory note due in January 2026. Notably, these bonds are structured as a tax-exempt direct placement with WesBanco, featuring a synthetic fixed interest rate of 4.21% through the first four years of the agreement. Furthermore, the financing arrangement stipulates a twelve-year bank credit commitment, culminating in a final maturity date set for December 2055.

Tom Meyers, Senior Managing Director of Ziegler's Senior Living Finance Practice, expressed optimism about the deal, highlighting the favorable conditions in the bank credit market that benefited Jennings. Meyers commented, “This financing represents a gratifying endorsement of the Sisters of the Holy Spirit’s enduring mission to serve seniors in Northeast Ohio through a Catholic tradition. Ziegler was pleased to facilitate a loan with competitive, customized terms from WesBanco, ensuring Jennings' needs were effectively met.”

Meanwhile, Matt Bollin, Chief Financial Officer at Jennings, emphasized the critical role of sound financial stewardship for the non-profit organization. He stated, “For Jennings, being a good steward of its funds is vital, enabling us to fulfill our mission of serving aging adults today and in the future. Our past collaboration with Ziegler fortified our confidence in their expertise, making them the ideal advisors for securing the appropriate financing necessary to strengthen our operations.”

Through its dedication to excellent service, Jennings has emerged as a premier provider catering to elderly residents throughout Northeast Ohio. By leveraging its firm foundation built on Catholic values, Jennings continually evolves to meet the needs of aging adults, emphasizing innovation and growth as it moves toward the future. For additional information on Jennings and its extensive range of services, please visit their official website at www.jenningsohio.org.

Ziegler, a national boutique investment bank, prides itself on being the leading underwriter for financing initiatives aimed at non-profit senior living providers. Their array of services extends beyond investment banking to encompass financial risk management, strategic planning, and merger and acquisition solutions tailored specifically for senior living. To learn more about how Ziegler supports organizations like Jennings, visit www.ziegler.com.