Multi-Site Senior Living

Ziegler is pleased to announce the successful closing of the Series 2024A/B Bonds for the benefit of Shell Point Retirement Community. Located in Ft. Meyers, FL and ranked the largest single-site life plan community according to the 2023 LeadingAge Ziegler 200, Shell Point will use the bond proceeds to construct 58 independent living units in a 14-story building to be known as Vista Cay in the Island neighborhood.

We are at the midpoint of 2024 and wanted to provide an update on the not-for-profit senior living & care sector with respect to merger, acquisition, and affiliation activity. We continue to see record-level activity among organizations exploring the benefits of a potential affiliation with another not-for-profit, as well as scenarios where a disposition/sale may be the most logical alternative.

In July 2024, a Ziegler CFO Hotline^SM survey once again gathered feedback on technology spending among senior living organizations. This survey with input from LeadingAge CAST, has been polled every two years since 2012.

It is well known among senior living providers that the industry is on the cusp of a demographic boom as the next generation of retirees enter the market. The 80+ population is set to grow by roughly 40% by 2030. These future senior living residents are eagerly seeking out varied and sophisticated dining options, have a strong focus on health & wellness, and have more advanced technology needs than those before them. As providers continue to explore the best ways to serve this population, however, one key component is missing: there are simply not enough units for the upcoming surge in demand.

Ziegler is pleased to announce the successful pricing Carolina Meadows’ $76,170,000 Series 2024 Bonds. Incorporated in 1983 and located in Chapel Hill, NC, Carolina Meadows plans to construct a replacement nursing facility that will total approximately 122,000 square feet and offer a progressive new care model.

For more than 16 years, Ziegler has hosted an annual Institutional Investor Workshop for active institutional buyers in the tax-exempt senior living marketplace. Roughly 50 analysts, portfolio managers and directors from throughout the country will be attending this week’s workshop to receive the latest education on the senior living industry, to network with one another, and to exchange dialogue with Ziegler leadership from the banking and trading sides of the business.

Ziegler is pleased to announce the successful closing of FellowshipLIFE’s Series 2024 Bonds and Taxable Term Loan in an aggregate par amount of $42,500,000 for the purchase of Applewood, a 408-unit CCRC in Freehold, NJ. Ziegler facilitated a bank search which resulted in multiple proposals for the acquisition.

Ziegler is pleased to announce its role as strategic advisor to Presbyterian Homes of Tennessee on the affiliation of its life plan communities located in Knoxville and Maryville with Covenant Living & the sale of its skilled nursing centers.

In this issue of Z-News, we highlight ‘An Analysis of Health Outcomes Among Senior Housing Residents’ recently released by NIC in coordination with NORC at the University Of Chicago. These findings are just a portion of a four-part study, researching the differences in health outcomes among individuals who have moved into senior housing facilities (CCRCs) compared to older adults living within the community (non-congregate peers).

Ziegler is pleased to announce its role as sell-side financial advisor in the sale of a three building portfolio consisting of 182 skilled nursing beds and 24 behavioral health beds in  Northern Ohio. The seller is a leading not-for-profit organization dedicated to providing affordable housing and healthcare and supportive services to various populations and is the organization’s only healthcare properties in Ohio.