Single-Site Senior Living

Ziegler is pleased to announce the successful closing of Capital Manor’s Series 2022 Bonds. Located in Salem, Oregon, Capital Manor consists of 302 independent living units and 83 residential care beds with an additional 34 memory care beds. Bond proceeds will primarily be used to refinance existing debt and fund an exterior recladding project and to renovate a portion of the resident commons area.

Ziegler is pleased to announce the successful closing of the Mt. San Antonio Gardens $43,780,000 Series 2022 tax-exempt fixed rate bonds. Incorporated in 1957 and located in Pomona and Claremont, California, MSAG will primarily use bond proceeds to fund the replacement of the original 1961 residential building to be known as The Cedars.

Many senior living organizations are actively engaged in strategic planning activities. This issue of Z-News breaks down a number of common elements senior housing and care providers are discussing as they seek to diversify their traditional revenue streams.

Ziegler is pleased to announce the successful pricing of Kendal at Lexington’s $18,910,000 Series 2022 forward delivery bonds. Located in Lexington, VA, the community consists of 150 independent living units, 19 assisted living units and 60 skilled nursing beds. Bond proceeds will primarily be used to refund the outstanding 2017A Bonds.

Ziegler recently launched Ziegler CFO Hotline poll on the topic of financial, timekeeping and payroll systems. More than 260 not-for-profit senior living CFOs and financial professionals from around the country responded, with 60% representing single-site organizations and 40% multi-site organizations. This report highlights the key findings from that survey.

A specific group monitored by Ziegler’s Credit Surveillance and Analytics (ZCS) team are the tax-exempt borrowers of public debt with in senior living & care. This week’s Z-News highlights a recent report detailing the impact on financial ratios and other measures tracked by the ZCS team.

Ziegler is announces the successful closing of the acquisition of The Cabana at Jensen Dunes on behalf of Convivial Life, Inc., a Florida not-for-profit organization. The community opened in 2016 and is located on 23 acres along Florida’s east coast in Jensen Beach, Florida with approximately 12.34 acres being a nature preserve. It includes 126 rental units consisting of 88 assisted living units and 38 memory support units.

Ziegler is pleased to announce the closing of the Westminster-Canterbury of the Blue Ridge $52,960,000 Series 2022A and 2022B Bonds. Located in Charlottesville, Virginia, WCBR will primarily use Bond proceeds to refund existing indebtedness locking in a historically low cost of capital.

The January 2022 Ziegler CFO Hotline poll was devoted to the topic of financial, timekeeping and payroll systems.  Over 260 not-for-profit senior living CFOs and financial professionals from around the country responded to the survey, with 60% representing single-site organizations and 40% multi-site organizations.