Multi-Site Senior Living

One strategy for growing your organization’s footprint is to strategically ‘Land Bank,” which essentially means taking advantage of the opportunity to acquire parcels of land at a time where there may or may not be an immediate development plan. Learn more in this week’s Z-News.

Several years ago, as an inclusion to the LeadingAge Ziegler 200 survey, we started tracking specialty type positions that organizations have been creating and implementing at the corporate level. These are generally positions within larger organizations who have the resources to add, which helps them navigate the increasing complexity of the senior living operations. The summary below outlines the most common positions being added in recent years.

Ziegler announces the successful closing of $29,200,000 Series 2023A and 2023B Bonds for Bishop Gadsden Episcopal Retirement Community on James Island in Charleston, SC. Having recently completed construction of a replacement health center and renovated/expanded assisted living units, which Ziegler financed in 2019, Bishop Gadsden is now planning a 15-unit independent living neighborhood known as The Meade.

In 2012, Ziegler began dedicating a biannual Ziegler CFO Hotline poll to the topic of technology spending. For this year’s poll, more than 150 CFOs and finance professionals participated in the survey, with a diverse representation from both single-site and multi-site organizations.

In December 2022, a Ziegler CFO Hotline survey gathered feedback on technology spending among senior living organizations. This particular study, conducted with input from LeadingAge CAST, revisits polls from 2020, 2018, 2016, 2014, and 2012 devoted to the same topic.

Ziegler has compiled year-end data for not-for-profit senior living organizations that have affiliated with one another, communities that have been sold to for-profit entities, communities that have perhaps even been acquired by not-for-profits from the for-profit sector, and those not-for-profits that closed this past year.

Ziegler announces the closing of $19,021,000 for Living Branches in eastern PA. Proceeds from the Series 2023 Revenue Bonds will be used to finance renovations and improvements to Living Branches’ Dock Woods community as well as pay off an outstanding 2018 construction loan.

This Z-News reviews 2022 municipal bond issuance, capital markets, interest rates and the nearly 60 transactions Ziegler led this past year.

Ziegler announces the closing of Saint Therese of Corcoran’s $47 million of Series 2022 and Series 2023 tax-exempt bonds. Bond proceeds will be used to construct a new community, to be located within the new Southeast District of Corcoran, Minnesota, comprised of 99 independent living apartments, 34 assisted living apartments, and 20 memory care suites.

Each year, we use the initial weeks of Ziegler Z-News to reflect on the year behind us and what to anticipate for the year ahead. It has certainly been an interesting several years, with 2022 handing us economic challenges along with a mixed bag of continued recovery from the COVID-19 pandemic, but also fierce headwinds that will continue into the year ahead.