Ziegler Facilitates $34 Million Bond Financing for Carol Woods
Ziegler Facilitates Significant Fundraising for Carol Woods
CHICAGO — Ziegler is excited to announce the successful pricing of Series 2025 Bonds, totaling $34 million, dedicated to The Chapel Hill Residential Retirement Center, known as Carol Woods.
Overview of Carol Woods Retirement Community
Founded in July 1972 by a dedicated group of citizens, Carol Woods is a nonprofit organization focused on creating a nurturing environment for senior living. The community spans an impressive 120 acres, providing 315 independent living units, 89 assisted living beds, and 30 skilled nursing beds. Additionally, Carol Woods offers a unique program called Early Acceptance, which supports approximately 180 members without lodging. For over three decades, Carol Woods has proudly held accreditation from the Commission on Accreditation of Rehabilitation Facilities (CARF), reinforcing its commitment to quality care.
Purpose of the Series 2025 Bonds
The proceeds from the Series 2025 Bonds are earmarked for several critical improvements and refinancing efforts at Carol Woods. These include the following key projects: refunding an existing Bank Loan from 2024, enhancing plumbing and sewer systems, renovating dining and kitchen facilities, installing new elevators, and upgrading HVAC systems, along with outdoor landscaping improvements and other essential capital projects.
Investment Details and Future Impact
Structured to enhance Carol Woods' financial sustainability, the Series 2025 Bonds boast a final maturity of 30 years and a weighted average maturity of 21.56 years, offering a blended yield to maturity of 4.88%. The bond offering garnered interest from seven institutional investors, reflecting strong market confidence.
Tommy Brewer, Managing Director at Ziegler’s Senior Living Finance Practice, remarked, "We are truly honored to partner with Carol Woods on these Series 2025 Bonds. This transaction exemplifies the mission and leadership strength of Carol Woods and our collective commitment to pioneering sustainable, innovative solutions within the senior living sector. We are thrilled to play a role in their ongoing success and community impact."
Ziegler’s Role in Senior Living Financing
As a prominent national investment bank and capital markets firm, Ziegler specializes in supporting not-for-profit senior living providers through unique and tailored financial solutions. Their expertise includes investment banking, financial risk management, and strategic advisory services, dedicated to advancing development within the senior living industry.
About Ziegler
Ziegler is a privately held national investment bank, rooted in a commitment to healthcare, senior living, and education sectors. With a headquarters in Chicago and numerous branches across the U.S., Ziegler focuses on capital raising, strategic advisory, fixed income sales, and trading, offering innovative solutions designed for sustainable growth.
Frequently Asked Questions
What is the purpose of the Series 2025 Bonds?
The Series 2025 Bonds will be used to refund existing loans and fund various infrastructure improvements at Carol Woods.
How long has Carol Woods been in operation?
Carol Woods has been serving the community since its establishment in 1972, focusing on providing quality living for seniors.
What improvements will the bond proceeds finance?
The funds will support infrastructure upgrades, renovations, and essential capital projects at Carol Woods.
Who is Ziegler?
Ziegler is a leading investment bank that specializes in financing solutions for senior living providers.
How does Carol Woods serve its residents?
Carol Woods offers a variety of living options, including independent and assisted living, as well as nursing care.
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