Ziegler is pleased to announce the successful closing of Shenandoah Valley Westminster-Canterbury's $71,000,000 Series 2022A and 2022B Bonds for the Senior Living Finance Practice.
CHICAGO, Aug. 13, 2022 /PRNewswire-PRWeb/ -- Ziegler is pleased to announce the successful closing of Shenandoah Valley Westminster-Canterbury's $71,000,000 Series 2022A and 2022B Bonds for the Senior Living Finance Practice.
Shenandoah Valley Westminster-Canterbury (SVWC) is a Virginia not-for-profit organization that owns and operates a life plan community located in Winchester, Virginia. SVWC was founded in 1982 and provides housing, health care, and other services to nearly 400 residents on its 87-acre campus through the operation of 218 independent living units (164 apartments and 54 cottages), 48 assisted living units, 12 memory care units and 51 skilled nursing beds.
SVWC is completing an independent living unit expansion project known as the Hackwoods, the first phase of which will include 48 new independent living unit apartments. To fund the first phase of the project, SVWC issued two tranches of draw down bank loans that were purchased by Atlantic Union Bank and Pinnacle Financial Partners under a participation agreement:
"I personally have had the privilege of working with Shenandoah Valley Westminster-Canterbury for almost 20 years," said Tad Melton, managing director. "Over that time SVWC has grown into one of the strongest single site life plan communities in the nation. The Series 2022 financing was highly successful and demonstrated our teams' ability to offer steady guidance in a volatile market environment, the attractiveness of SVWC's sound financial profile and the ability of its board and management team to achieve success in a dynamic time. Working together, the outcome was yet another example of SVWC growing and evolving and delivering on its mission and to its residents. We were proud to be part of the team with such a strong community and other strong outside advisers."
Ziegler is the nation's leading underwriter of financings for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication.
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.
Christine McCarty, Ziegler, 3125961617, [email protected]
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