SOURCE: Ziegler


November 17, 2011 13:47 ET

Ziegler Closes $143 Million Financing for The Terraces at Bonita Springs

CHICAGO, IL--(Marketwire - Nov 17, 2011) - Ziegler, a specialty investment bank, is pleased to announce the successful closing of a $143,120,000 non-rated, fixed-rate issue for The Terraces at Bonita Springs (the Terraces). The Terraces is a start-up continuing care retirement community to be constructed in Bonita Springs, Florida, just north of Naples in southern Lee County. The Terraces is sponsored by SantaFe Senior Living, an affiliate of SantaFe HealthCare located in Gainesville, Florida, each of which are not-for-profit corporations. Ziegler served as sole manager on this bond issue.

The Terraces will be located on approximately 20 acres and is expected to consist of 144 entrance fee-based independent living apartment-style residences, 49 residential-style assisted living apartments, 18 memory support assisted living suites, and a nursing facility including 40 private nursing beds. Greystone Communities of Las Colinas, Texas serves as the developer for the Terraces. SFSL will manage the Community. SFSL is an experienced senior living provider operating three other Florida retirement communities (Gainesville, Clearwater and Miami) and ranks #48 on the 2011 LeadingAge Ziegler 100, a list of the largest not-for-profit senior living providers in the nation.

Ziegler is one of the nation's leading underwriters of financing for non-profit senior living providers and offers investment banking, financial risk management, merger and acquisition services, investment management, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication. Rich Scanlon, Managing Director in Ziegler's Senior Living practice, states, "Start-up senior living communities are among the most difficult project financings to complete in today's challenging capital markets environment, particularly in Florida. The completion of The Terraces financing can be attributed to a committed sponsor, a well-conceived development plan in a strong market area and an experienced, dedicated working group, the combination of which are the elements observed in successful retirement communities throughout the country."

For further information on the structure and use of this issue, please see the Official Statement located on the Electronic Municipal Market Access system's Document Archive.

For more information about Ziegler, please visit us at

About Ziegler:

The Ziegler Companies, Inc. (PINKSHEETS: ZGCO) together with its affiliates (Ziegler) is a specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion and education finance, as well as corporate finance and FHA/HUD. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler creates tailored financial solutions including bond financing, advisory, private placement, seed capital, M&A, risk and asset management. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.

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.

This communication does not constitute an offer to buy these securities. The offering is made only by the Official Statement and through an appropriately registered representative. The Series 2011 Bonds may not be appropriate for all investors. Market value and/or accrued interest will fluctuate during the period held, and, if sold prior to maturity, the yield received may be more or less than the yield calculated at the time of purchase. Discounted yields herein are gross yields to maturity. Discounted bonds may be subject to capital gains tax, rates of which will vary, so investors should consult their own tax advisor with regard to their personal tax situation. Interest on municipal bonds may be exempt from federal income tax but may be subject to tax for residents of certain states. For bonds designated AMT, taxes may exist for certain investors. Ziegler will sell these bonds on a principal basis.

The corporation or its officers, directors, stockholders, or members of their families may at times have a position in the securities mentioned herein and may make purchases or sales of these securities. Not all call or put information is identified in the description above. Please be sure to discuss any special features with your Financial Advisor before deciding whether to invest in these securities.

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