CHICAGO, June 16, 2021 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, in partnership with M&T Realty Capital Corporation (M&T), is pleased to announce its role as financial advisor in a $4,370,000 Fannie Mae refinancing on behalf of Essex Communities to refinance the existing debt on The Regency, a 55+ age-restricted independent living community in Kearney, Nebraska.
The 10-year, fixed-rate loan was structured at 75% loan-to-value with 2 years of interest only payments, followed by 30 years of amortization. The loan also carried a declining prepayment schedule, which will provide the Borrower with additional flexibility in future years. The deal was originally quoted to include a COVID-19 debt service reserve escrow, which was later waived prior to loan's final approval. The Fannie Mae loan reimbursed the Borrower for capital expenditure investments and provided equity-out to assist the company's growth strategy.
M&T has been a Fannie Mae-approved Delegated Underwriting and Servicing (DUS®) lender since 1989 and was ranked a Top-5 Fannie Mae Seniors Housing DUS Producer in 2018 and 2019. Director Eric Johnson led the transaction for Ziegler from the company's Denver, CO office. Managing Director Steven Muth and Seniors Housing Program Manager Matthew Pipitone led the transaction for M&T. This is the second Fannie Mae financing that the team has completed with Essex in 2021.
Ziegler's Senior Housing & Care Finance Practice brings its experience and expertise to senior housing and post-acute care clients. By offering a comprehensive suite of products for debt, equity and M&A services, our professionals provide creative solutions that meet your organization's capital goals.
For more information about Ziegler, please visit us at http://www.ziegler.com.
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. It has a unique focus on healthcare, senior living and education sectors, as well as general municipal and structured finance. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. To learn more, visit http://www.ziegler.com.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client's experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
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Christine McCarty, Ziegler, 3125961617, email@example.com
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