Ziegler Finalizes Bond Issuance for Messiah Lifeways
In an exciting development for the senior living sector, Ziegler proudly announces the successful closing of Messiah Lifeways' $82,320,000 Series 2026A Bonds. This financing will significantly bolster the organization's ability to continue offering exceptional services to older adults.
About Messiah Lifeways
Messiah Lifeways is a non-profit organization that serves as the parent entity of Messiah Village, located in Mechanicsburg. This facility operates on a sprawling 85-acre campus and caters to over 700 older adults, providing a remarkable spectrum of care, including independent living, skilled nursing, and memory support services.
History and Growth
Founded over a century ago in Harrisburg, Messiah Village relocated in 1978 to its current home. Today, it features 375 independent living units, 88 personal care units, and various other accommodations to support its residents. Messiah Lifeways is now poised to expand with the upcoming Fernecrest Project, which will add significant new living options to the campus.
Fernecrest Project Plans
The Fernecrest Project, set to begin construction shortly, includes plans for 56 apartments and 79 cottages, alongside community and dining spaces. This initiative represents an investment of approximately $75 million, with funding strategically managed to ensure timely progress. The financing will not only cover construction but also support the costs associated with the planning and the refunding of existing debts.
Financial Details
The proceeds from the bonds will serve multiple purposes, including addressing existing long-term debts and advancing the Fernecrest Project. The Series 2026A Bonds are rated 'BBB-' by Fitch Ratings, reflecting a stable outlook. This proactive financing approach creates a flexible structure for Messiah Lifeways, ensuring it can adapt to future growth opportunities.
Expert Insights on the Financing
Tommy Brewer, the Managing Director at Ziegler’s Senior Living Finance Practice, expressed appreciation for the teamwork that has made this financing possible. He praised the dedication and professionalism of the Messiah Lifeways team, particularly the leadership of CEO Karl Brummer and CFO Jarrod Leo. Such collaborations ensure the delivery of critical services to senior living communities.
Ziegler's Role in Senior Living
Ziegler stands as a premier underwriter within the nonprofit senior living space, delivering tailored financial solutions to its clients. The firm excels in investment banking, financial strategy, and educational services targeted at helping senior living providers navigate financial landscapes effectively.
Looking Forward to Community Impact
The closing of this bond issuance is a pivotal moment for Messiah Lifeways as it embarks on its next chapter of growth. With the additional resources secured through these bonds, the organization is well-positioned to enhance its operational capabilities and improve the quality of life for its residents.
Contact Information
For those interested in learning more about Ziegler’s offerings and services, additional information is available on their official website, designed to provide all the necessary insights into their operations and expertise in the senior living sector.
Frequently Asked Questions
What are the Series 2026A Bonds?
The Series 2026A Bonds represent a financing method for Messiah Lifeways, totaling $82.32 million, aimed at refinancing debt and funding new developments.
What is Messiah Lifeways?
Messiah Lifeways is a non-profit organization providing support and care for older adults, including a range of living options and health services.
What will the proceeds from the bonds be used for?
The proceeds will be used to refund current debts, fund the Fernecrest Project, and cover related expenses for bond issuance.
How does Ziegler contribute to senior living financing?
Ziegler offers a wide range of financial services tailored to non-profit senior living providers, including investment banking and strategic advisory services.
What is the significance of the Fernecrest Project?
The Fernecrest Project will expand the living options available to seniors, enhancing the overall community impact and supporting the growing demand for senior living accommodations.
