Multi-Site Senior Living

The team at Ziegler wishes you a safe and joyous holiday season. Thank you for your hard work and dedication this past year. Best wishes for a happy, healthy and prosperous new year.

Ziegler is pleased to announce the successful closing of RiverWoods Exeter’s Series 2024 Bonds totaling $39,680,000. Located in the Seacoast Region of New Hampshire, the RiverWoods campuses reside on a contiguous parcel of over 200 acres of heavily wooded land with frontage on the Exeter River. Proceeds of the Bonds will primarily be used to refinance the outstanding Series 2012AB Bank Loans.

Ziegler is pleased to announce the successful closing of $22,340,000 in Series 2024 Bonds and Notes for the Olympus Community Development District. The financing will accelerate the development of Olympus, a transformative 243-acre master-planned community and sports and entertainment destination in Lake County, Florida.

The senior living industry is currently experiencing a significant shift in demand for direct care workers. With a projected increase of 860,000 new direct care jobs from 2022 to 2032, the industry is gearing up for a substantial rise in employment opportunities, totaling an estimated 8.9 million job openings in direct care roles. Notably, 26% of these job openings are expected to be in Home and Community-Based Services (HCBS), particularly for home care workers.

Ziegler is pleased to announce the successful closing of the Series 2024 Bonds for Village On The Isle, a CCRC in Venice, Florida. Originally opened in 1982 on a 16-acre campus, the community will use bond proceeds to construct 54 new independent living units as well as a new wellness center.

Over the years Life Plan Communities have expanded services to further accommodate residents and, in some cases, the surrounding areas. A topic worth exploring further, and one many senior living providers currently offer, is Home and Community-Based Services (HCBS). In November, a Ziegler CFO Hotline^SM survey polled senior living and care CFOs and finance professionals on this very topic and nearly 200 senior living and care providers responded.

In November 2024, a Ziegler CFO Hotline^SM survey gathered feedback on Home and Community-Based Services (HCBS) among senior living organizations. These services include home health, continuing care at home, and more.  This is the first survey on the subject as additional organizations continue to explore and expand service offerings. The respondent pool was heavily weighted towards Not-for-Profit Life Plan Community organizations. Nearly 200 organizations participated in the survey, with roughly 120 offering HCBS.  More than half of respondents were from single-site Life Plan Communities (LPCs), while roughly 30% were from multi-site, same state providers.

Ziegler is pleased to announce its role as exclusive sell-side financial advisor in the sale of St. Mary of the Woods, a 179-bed/unit continuing care retirement community located in Avon, Ohio on behalf of Atrium Centers. The community was acquired by Minneapolis-based Saint Therese on December 1.

Ziegler has closed an FHA-insured loan for the refinance of Good Shepherd Residence in Fremont, California, an AbleLight property. The loan was completed under the U.S. Department of Housing (HUD) Federal Housing Administration (FHA) Section 223(f) program. The fixed-rate, 35-year fully amortizing loan funded significant repairs and improvements to the project which serves individuals with intellectual and developmental disabilities. 

Ziegler is pleased to announce the successful closing of Wartburg’s Series 2024 Taxable Loan totaling $8,4000,000. The loan advance refunds the Meadowview at Wartburg’s outstanding Series 2015A Bonds as well as provides new money to fund various capital expenditures.