Ziegler Completes Major Financing for Deerfield Retirement Community
We are excited to share that Ziegler has successfully closed a substantial financing deal for Deerfield Episcopal Retirement Community, amounting to $357,225,000 in Series 2026 Bonds. This significant advancement reflects Ziegler's commitment to enhancing senior living within our communities.
Understanding Deerfield Episcopal Retirement Community
Deerfield, a nonprofit organization established in the mid-20th century, has established a renowned Life Plan Community spread out over 125 acres of scenic land. Its proximity to natural landmarks and essential services makes it an ideal location for senior living, blending beauty with convenience. The estate features an array of housing options—378 independent living residences, 62 assisted living units, and 62 skilled nursing accommodations— all designed to cater to various needs of the elderly population.
Project Plans for Enhanced Living Spaces
In response to both community growth and a demand for better facilities, Deerfield is set to launch an ambitious renovation and construction plan. This initiative includes several critical enhancements to its existing infrastructure, ensuring it meets the evolving needs of over 1,600 prospective residents.
Expanding Healthcare Facilities
Among the most significant improvements are plans to renovate and expand the Simonds Health Center. The aim is to add specialized assisted living accommodations focusing on memory care, alongside new skilled nursing options to cater to a growing number of residents with specific health needs.
Innovative Community Spaces
Further development plans also include the renovation of Haden Hall, which will be transformed into a versatile space that includes fitness areas, arts, and wellness clinics. The new community center aims to create vibrant gathering spots for social engagement.
Details on the Issuance of Series 2026 Bonds
The Series 2026 Bonds are structured into three categories to fit different financing needs. The first tranche includes the 2026A Long-Term Bonds, which are fixed rate and received a BBB+ rating from reputable rating agencies. These bonds are set to mature in 2056 and will significantly help fund the ongoing projects.
The 2026B Tax Exempt Mandatory Paydown Securities form the short-term financing segment of the arrangement. This type of bond will be repaid using the initial entrance fees for new residents, demonstrating a smart use of financial strategies that ensure sustainability for the community.
The 2026C Long-Term Bank Bonds bring in a new variable-rate option, allowing Deerfield to diversify its financial structure further. This aspect not only showcases Ziegler's innovative approach but also its dedication to supporting the financial stability of its clients.
A Commitment to Excellence in Senior Living
Tommy Brewer, Managing Director at Ziegler, expressed pride in partnering with such an esteemed organization. He emphasized the project's potential to enhance the quality of life for current and future residents, putting Deerfield on a path to become a standard-bearer in senior living excellence.
Ziegler stands as a leader in financing solutions tailored for not-for-profit senior living providers, continually striving to offer inventive strategies to meet the unique needs of its clients.
About Ziegler
Ziegler is not just an investment banking firm; it’s an industry leader focused on key sectors like healthcare and senior living. With a network spanning the nation, it provides a broad range of services, including capital raising, financial advisory, and strategic planning. This ongoing commitment to nurturing communities reflects Ziegler’s fundamental value of long-term relationships and client-centric solutions.
Frequently Asked Questions
What is the purpose of the Series 2026 Bonds?
The Series 2026 Bonds aim to finance various development projects at Deerfield Episcopal Retirement Community, enhancing living conditions and expanding healthcare facilities.
How many residents can Deerfield accommodate after the expansion?
With the upcoming expansion and renovations, Deerfield is preparing to accommodate a significant increase in residents, addressing the needs of over 1,600 prospective residents currently on the waiting list.
What specific enhancements are planned for Deerfield?
Planned enhancements include new independent living apartments, specialized memory care facilities, renovation of community spaces, and new wellness and activity ventures.
What ratings did the bonds receive?
The Series 2026A Long-Term Bonds received a BBB+ rating from Fitch Ratings, indicative of their creditworthiness and investor confidence.
What is Ziegler's role in this financing?
Ziegler serves as the underwriter for these bonds, offering tailored financial solutions to support Deerfield's robust expansion and commitment to senior living excellence.
