Ziegler Completes Major Financing for Brio Living Services
Ziegler is thrilled to announce the completion of a substantial financing deal for Brio Living Services, totaling $113,500,000 in Series 2025 Bank Direct Placement Draw Down Bonds. This financial maneuver is poised to launch a transformative era for Brio, which is committed to enhancing senior living experiences.
About Brio Living Services
Based in Michigan, Brio Living Services operates as a not-for-profit organization dedicated to senior living and aging services. With a rich array of offerings, Brio supports a wide spectrum of care, including independent living and skilled nursing across multiple locations, such as Chelsea Retirement Community and Porter Hills Village.
Brio's Community Impact
Brio provides an impressive continuum of care, supporting independent living, assisted living, memory care, and rehabilitation services. It is noteworthy that as of March 31, 2025, the organization proudly manages 993 total units across its various communities, earning a strong reputation in senior living service.
Financing Construction and Renovation
The funds acquired through the Series 2025 Bonds are earmarked for Phase I of Brio's comprehensive repositioning strategy at the Porter Hills Village campus. This plan aims to revitalize the facilities and improve the living standards of residents, ensuring that Brio remains competitive in the evolving industry.
Enhancement of Facilities
This initial phase is projected to span approximately 36 to 42 months, focusing on infrastructure improvements, new roadways, and a state-of-the-art multi-use building. This new construction will integrate independent living, assisted living, and skilled nursing provisions, promoting a household model of care.
Importance of Ziegler's Role
Ziegler, acting as both the placement agent and swap advisor, structured the bonds to optimize financial performance amid challenging market conditions. Senior Managing Director Tom Meyers expressed pride in supporting Brio's mission to care for seniors across Michigan. The financing represents Ziegler's seventeenth partnership with Brio since 2009.
Looking Ahead
CFO Kalen Carlson emphasized the remarkable opportunity that the Porter Hills project presents for enriching community life. With the collaborative effort of Ziegler and Huntington Bank, the financing allows Brio to fulfill its mission sustainably. These improvements not only secure Brio's future but also enhance its ability to serve the growing needs of the senior population.
The Path Forward for Ziegler
Ziegler remains committed to providing tailored financial solutions to not-for-profit senior living providers nationwide. Its role is crucial in facilitating the health and growth of organizations that prioritize senior living and care, ensuring their operational relevance in a rapidly changing environment.
Frequently Asked Questions
What was the purpose of Ziegler's financing for Brio Living Services?
The financing is intended to fund Phase I of Brio's repositioning project at Porter Hills Village, enhancing facilities and services offered to residents.
How many units does Brio Living Services currently operate?
Brio Living Services operates a total of 993 units across its various senior living communities.
What types of care does Brio offer?
Brio offers independent living, assisted living, memory care, skilled nursing, and rehabilitation services, as well as home health and hospice care.
What is Ziegler's role in the financing deal?
Ziegler acted as both the placement agent and swap advisor, ensuring the financing terms were competitive and favorable amid market challenges.
What can residents expect from the Porter Hills Village project?
Residents can look forward to modern amenities, improved living conditions, and a community model focused on enhancing well-being and engagement.
