#United States #California #financing #Ziegler #Odd Fellows Home

Ziegler's Major Financing for Odd Fellows Home of California

On April 6, 2026, Ziegler, a specialist investment bank, announced the successful closing of a substantial financing deal amounting to $101,745,000 for Odd Fellows Home of California, a nonprofit organization dedicated to serving senior citizens. This financing was executed through the California Statewide Communities Development Authority and represents a significant step toward enhancing community services and facilities.

Background of Odd Fellows Home

Odd Fellows Home has been a cornerstone in California's senior living landscape, operating two key communities: the Saratoga Retirement Community (SRC) and The Meadows of Napa Valley. The Saratoga community, established in 1912, is located approximately 50 miles southeast of San Francisco and spans an area of around 37 acres. This life plan community offers a range of living options, including 141 independent living apartments, 85 assisted living apartments, a 94-bed skilled nursing facility, and 15 memory care beds.

The Saratoga Project

A notable focus of the financing will be the Saratoga Project, which is set to introduce 52 new apartments along with improvements to existing facilities. The project includes the construction of three new apartment buildings and a single-story cottage, equipped with a 3,300 square foot auditorium and a 1,000 square foot exercise room. These enhancements aim to enrich the residential experience for current and future residents.

Financing Details

The funds raised via the Series 2026AB Bonds will not only facilitate the Saratoga Project but will also go toward debt service reserve funds, capitalized interest for an extended period, and various issuance costs. The bonds will benefit from exemptions from Federal and State income tax and have received an AA- rating from S&P Ratings, ensuring they are insulated against economic fluctuations.

Structure-wise, the financing involves a mix of short-term and long-term bonds, designed to provide flexibility and meet occupancy-related repayment schedules. The Series B Bonds will be repaid based on occupancy levels, while the Series A Bonds will be amortized over a 30-year period, extending through April 1, 2056. This structured approach aligns with Ziegler's goal of optimizing annual debt service commitments and maintaining financial sustainability.

The Impact of this Financing

Tony Delgado, Board Chair at Odd Fellows Home, expressed gratitude for the partnership with Ziegler, highlighting the investment's potential to expand services and enhance the ease of living for seniors in their communities. According to Delgado, this financing is a vital catalyst for ensuring long-term financial health and sustainability of their operations.

Sarkis Garabedian, Managing Director at Ziegler, emphasized the importance of this first collaboration with Odd Fellows Home, noting the longstanding impact such organizations have within their communities. The firm remains committed to leveraging innovative financing solutions that cater specifically to nonprofit senior living providers.

Conclusion

Ziegler, recognized as a national leader in financing solutions for senior living entities, consistently provides tailored strategies that address the unique needs of these organizations. The completion of this significant financing marks a new chapter for Odd Fellows Home of California, delighting both residents and staff with the promise of enhanced living facilities and supportive environments. The enhanced finances aim to elevate not only the quality of service but also the overall experience of the senior community.

For more details about their services and future developments, Ziegler encourages interested parties to visit their official site at www.ziegler.com.