SOURCE: Ziegler


August 24, 2011 11:57 ET

Ziegler Closes $44M Financing for Miralea; an Independent Senior Living Development

CHICAGO, IL--(Marketwire - Aug 24, 2011) - Ziegler, a specialty investment banking firm, is pleased to announce the successful closing of the Miralea in Louisville, Kentucky transaction. Miralea is a new independent senior living development located on the current grounds of Masonic Homes of Kentucky's Louisville campus. Ziegler structured a $43.785 million bond transaction to construct the new 102 independent living units in August, with the first residential move-ins planned for December of 2012.

Miralea is an affiliate of Masonic Homes of Kentucky (MHKY) and is being developed on the existing Louisville campus of MHKY. Masonic Homes of Kentucky has three Kentucky campuses and approximately 600 units in its continuum of care. The Louisville campus of Masonic Homes of Kentucky has history dating back to 1867 and currently includes 146 independent living apartments, 104 assisted living units, and 136 skilled nursing units on its 81 acres. The Series 2011 Bonds will finance the development of Miralea, which will include 90 new independent living apartments and 12 duplex cottages, as well as common dining areas, a wellness/fitness center, a pool, a creative arts center, and other common living areas.

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. Tom Meyers, Managing Director in Ziegler's Senior Living practice, commented, "This is an exceptional project for an exceptional sponsor. Mirelea not only was 100% pre-sold by the financing's finalization but also a wait list with more than 20 units had been established. This is a very rare accomplishment and it is a great sign of the project's future success."

For further information on this issuer, please see the Electronic Municipal Market Access system's Document Archive.

For more information about Ziegler and 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.

Contact Information