Ziegler Successfully Completes $80 Million Bond Financing for Brazos Presbyterian Homes

Ziegler Completes Major Financing for Brazos Presbyterian Homes

Ziegler, a well-respected specialty investment bank, recently achieved a significant milestone by successfully closing an $80 million tax-exempt fixed-rate bond issue for Brazos Presbyterian Homes (BPH). This financing marks a major step for BPH, enhancing its ability to serve senior citizens and promote growth within its retirement communities.

The Series 2025 Bonds, issued with the backing of the New Hope Cultural Education Facilities Finance Authority, come with a stable classification of 'BB+' from Fitch. BPH is notable for its large-scale operations in the sector, ranking 129th among the nation’s largest multi-site nonprofit senior living providers according to LeadingAge Ziegler 200.

A Look at Brazos Presbyterian Homes

Brazos Presbyterian Homes has established a strong foothold in the Texas senior living market with its three distinct continuing care retirement communities:

1. Brazos Towers at Bayou Manor - Opened in 1963, this community features a seven-acre campus situated between the Meyerland and West University neighborhoods of Houston.

2. The Hallmark - Acquired in 1972, this community is located in Houston's upscale Galleria neighborhood, renowned for its shopping, dining, and premium living accommodations across a five-acre site.

3. Longhorn Village - Situated in the scenic Steiner Ranch area of Austin, this community spans 55 acres and welcomed its first residents in 2009, with ownership transferred to BPH in 2018.

The funds raised from the Series 2025 Bonds are allocated for multiple purposes, including financing various capital expenditures across BPH’s retirement communities, refinancing existing debt to lower interest costs, establishing a debt service reserve fund, and covering the costs associated with the bond issuance itself.

Leadership Statements

Deidre Kinsey, CEO of Brazos Presbyterian Homes, expressed enthusiasm regarding the financing, stating, "Brazos Presbyterian Homes is thrilled with the successful completion of another financing expertly led by Ziegler and Brandon Powell. Their strategic guidance, responsiveness, and deep sector expertise have positioned us for continued growth and long-term financial stability."

Brandon Powell, Managing Director of Ziegler Senior Living Finance, highlighted the nature of the partnership with BPH. He noted, "Our long-standing relationship with BPH reflects a true strategic partnership rather than a typical financing arrangement. The decision to upsize this bond issue from $55 million to $80 million after the POS was released underscores both BPH's strong financial position and our team's ability to deliver creative, competitive financing solutions."

Ziegler’s Role in Senior Living Financing

Ziegler is well-regarded as the leading underwriter for financing operations focused on nonprofit senior living providers across the nation. The firm offers tailored financial solutions that include investment banking, financial risk management, and merger and acquisition services among others. Their services are essential in helping organizations like BPH maintain financial health and prioritize their operational goals, all while addressing the needs of an aging population.

For additional insight into Ziegler and its comprehensive services targeted at the senior living sector, interested parties can visit their official website at www.ziegler.com.

Conclusion

As the senior living market continues its evolution, financing solutions such as those provided by Ziegler play a pivotal role in ensuring organizations like Brazos Presbyterian Homes can thrive and expand. This successful bond financing not only strengthens BPH's financial standing but also affirms its commitment to delivering high-quality living options for seniors across Texas.